USD/JPY: The dollar falls sharply against the yen as the pair breaks through 145.00

In just three days, the exchange rate dropped as much as 3%. Is the run of the dollar about to end?

After three days of getting hit hard, the USD/JPY pair is moving sharply down. The dollar fell to a low of around 140.50, which is a change of about 3% from its recent high of 145.00 on Thursday. Why is the yen going up, and is this an early sign that the dollar's winning streak is coming to an end?

It's not clear yet if the dollar ran out of gas. One thing, though, shows that a slow long-term change may be possible: the Fed is almost done raising interest rates. With about two interest rate hikes still to come in 2023, investors are betting that the dollar may not be the most popular currency for much longer.

With this in mind, a slowdown in the dollar could be seen everywhere. In addition to the USD/JPY falling, the USD/CHF also lost some of its recent gains. The EUR/USD wants to keep going in the right direction after a good start to the week. Earlier today, the exchange rate jumped over the $1.10 mark.