ALBAWABA - The Japanese yen continued its sharp decline, hitting its lowest level against the euro in 15 years.
The slide comes amid ongoing repercussions of the Bank of Japan's insistence on monetary easing, following a decision made a few days prior.
Meanwhile, the Australian dollar jumped to its highest level in a week after the country's central bank unexpectedly raised interest rates, but suggested that there may be further tightening ahead to ensure that inflation returns to the targeted level within a reasonable timeframe.
Australia's central bank hiked interest rates to 3.85 percent, prompting the Australian dollar to rise 1 percent to just under 67 U.S. cents for the first time since April 25. It hovered around 66 cents for most of last week.
The euro advanced 0.24 percent to 151.31 yen, its highest level since September 2008.
The U.S. dollar inched up 0.21 percent to 137.74 yen for the first time since March 8. If it surpasses the level of 137.90, it will be the highest level recorded this year.
The euro also nudged up 0.1 percent against the U.S. dollar to $1.0985, but remains near its lowest level from last week.
