The Japanese yen plunged to a 38-year low of 163.24 per dollar, sparking heightened alert for potential intervention by Japanese authorities. The US dollar strengthened broadly, buoyed by Brent crude futures reaching a six-week peak of $91.99 a barrel and US 10-year Treasury yields hitting 4.64%. This dollar strength is further supported by its safe-haven status amid Middle East tensions. A strong dollar, coupled with rising oil prices and higher US yields, typically exerts downward pressure on international gold prices and could contribute to inflationary pressures and a stronger USD/PKR in Pakistan.
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