top of page
Long-time Chief Executive Officer Ben Silbermann of Pinterest would step down, handing over the reins of the social media platform to Google...

Stock Market

Google executive to take over as a new CEO of Pinterest

Top accounting firm Ernst & Young has been slammed with a record $100 million fine from the US government...

Stock Market

Accounting firm gets 100 million fine for faulty regulations

The Indian rupee slipped into a fresh low today and extended losses against the US dollar.


The rupee tumbled to a new low against the dollar in the midst of an increase in crude oil price

Wall Street saw a sharp fall at its closing in a broad sell-off. Consumers' worries over recession have sparked up...

Stock Market

Wall Street Lose Balance after recession strikes growth fear among consumers’

Soaring inflation may be pushing the US economy into a deep recession. Last week's 0.75% interest rate hike by the Federal Reserve...

Stock Market

Inflation ringing the recession bell - Mohammed Shaheen

Stock Market

19 Apr 2022

Dollar Index Crosses 101 for the First Time in Two Years amid Persisting Yen Slump

The Index Today

The dollar index on Tuesday surpassed the 101-mark for the first time since March, 2020, spurred by rising U.S. Treasury yields and bullish economic reports as the safe haven gained a new 20-year high against the Japanese yen.

According to Reuters, the dollar index had been up by 0.2% to 100.99 as of 1:26am ET. This comes after it rose by 101.02 during the initial trade. The greenback tracker has gained by 2.6% thus far this month.

Carol Kong, Commonwealth Bank of Australia’s FX Strategist said, "I think the broad dollar trend reflects U.S. economic outperformance, while we've seen some initial impacts of higher energy prices from the Ukraine war elsewhere, especially in the euro zone." She added, “If we get weak PMI numbers in the euro zone or elsewhere, then markets could potentially downgrade their expectations for the global economy, but I don't think the U.S. PMI will be particularly weak, so we'll see some contrast there, which would probably support the dollar."

The dollar has witnessed remarkable gains against the yen of late, rising by 0.73% to 127.88 yen on Tuesday, reaching the highest mark since May, 2002. However, investors continue to wager for the further decline of the yen with Japan’s Finance Minister Shunichi Suzuki warning against the currency’s fall possibly hurting the country’s economy, reported Reuters.

Clay pottery with table linens
bottom of page