The yen rose 0.5% to 153.53 yen against the US dollar on Tuesday. Overnight, it has risen 1.2%, with a cumulative increase of nearly 3.8% this month, making it the best performing currency among the G10 currencies. According to a trader familiar with related transactions but who requested anonymity, breaking through the 155 mark of the yen triggered a large number of stop-loss orders and forced options traders to sell dollars.

The yen rose 0.5% to 153.53 yen against the US dollar on Tuesday. Overnight, it has risen 1.2%, with a cumulative increase of nearly 3.8% this month, making it the best performing currency among the G10 currencies. According to a trader familiar with related transactions but who requested anonymity, breaking through the 155 mark of the yen triggered a large number of stop-loss orders and forced options traders to sell dollars.