During today’s trading, the US dollar rises in price against the euro and the pound sterling, having updated a 24-year high against the yen.

The ICE-calculated index showing the dynamics of the US dollar against six currencies (the euro, the Swiss franc, the yen, the Canadian dollar, the pound sterling and the Swedish krona) adds 0.34%, the broader WSJ Dollar Index – 0.33%.

As of 9:07 Moscow time, the euro was worth $1.0016 compared to $1.0054 at the close of the previous session.

The pound sterling at the same time fell to $1.1584 compared to $1.1622 the day before.

The cost of the American currency paired with the Japanese national currency amounted to 139.33 yen by 9:06 Moscow time against 138.96 yen at the close of the previous trading session. Earlier in the session, the rate rose to 139.69 yen/$1, the highest since September 1998.

The continuing weakening of the yen against the dollar is due to serious discrepancies in the monetary policy of the Federal Reserve System and the Bank of Japan. While the Fed is aggressively tightening policy, the Japanese central bank is keeping it ultra-soft.

The head of the Bank of Japan, Haruhiko Kuroda, confirmed late last week that the Japanese Central Bank considers it necessary to maintain incentives, as external factors pushing inflation up will begin to weaken next year.

“The confirmation by Fed Chairman Jerome Powell and the head of the Bank of Japan of their plans for their own approaches to monetary policy provided further impetus for the movement of the dollar against the yen to 140 yen per dollar,” said CBA analyst Carol Kong, quoted by Dow. Jones.