The yen's exchange rate against the US dollar has reached its lowest since 1990 amid expectations that the Bank of Japan will not rush to further raise the key rate after withdrawing it from the negative zone. During trading, the dollar rose to the level of 151.97 yen. The current quote of the USD/JPY pair is 151.75 yen per dollar. Naoki Tamura, a member of the Board of Governors of the Bank of Japan, said on Wednesday that the regulator's policy will remain stimulating for the foreseeable future, expressing support for a gradual rate increase. In general, the US dollar remains stable against the euro ($1.0828 compared with $1.0831 at the close of the previous session) and strengthens against the pound to $1.2616 (compared with $1.2629 the day before). The ICE DXY index, reflecting the dynamics of the dollar against six major world currencies, added 0.15%, while the broader WSJ Dollar Index rose 0.09%. Traders' attention this week is focused on the report on Americans' income and expenses for February, including the key inflation indicator monitored by the Federal Reserve System. This report will be published by the U.S. Department of Commerce on Friday, when U.S. exchanges will be closed due to Good Friday. Fed Chairman Jerome Powell will speak on the same day. Judging by the futures quotes for the Fed rate level, the market estimates the probability of its reduction in June by 64%.
