It has climbed each week in April, with this week's rise thanks to the Bank of Japan, which sent the yen falling through 130-per-dollar for the first time since 2002 on Thursday when it reinforced a commitment to its super-low yield policy.The yen was last at 130.53 per dollar after falling as low as 131.25 on Thursday following the BOJ's pledge to buy endless amounts of bonds daily as needed. The yen is down almost 7% in April, its worst month since November 2016.
"Like the yen, the euro is becoming more deeply undervalued against the U.S. dollar," said MUFG Bank currency analyst Lee Hardman. The conflict, and especially this week's halt on Russian gas supplies to Poland and Bulgaria, has investors concerned about Europe's energy security, inflation and growth.