Dollar crashes against yen as Japan currency hits historic gains and traders scramble

The yen surged despite the dollar fightback attempt

The US dollar index slipped 0.70% to 98.17, putting it on track to break a streak of gains. Against that backdrop, the Japanese yen has climbed sharply, posting historic rise levels that have surprised traders. The move is reshaping expectations for near-term currency direction as investors reassess global rate and risk bets.