YEN BUYING INTERVENTION
Dollar on the defensive after soft data, little relief for yen
Currency markets react to global economic trends, with sterling potentially shifting leadership from Rishi Sunak to Keir Starmer in the UK.
What would Japanese intervention to boost a weak yen look like?
Amid market uncertainties and political pressures, Prime Minister Fumio Kishida considers intervening to stabilize the yen ahead of the ruling party leadership race. The effectiveness of intervention in addressing public concerns over the weak yen and rising living costs remains uncertain.
China's yuan steady near 7-month lows as traders eye yen and data
China's yuan weakens against the dollar as foreign investors avoid the stock market. Analysts suspect currency manipulation by Beijing to maintain stability and competitiveness.
Asia shares subdued as inflation, politics loom large
Asia shares subdued awaiting U.S. price data for inflation cues. Markets cautious of Japanese intervention as dollar tests 160 yen level. Geopolitical events like U.S. debate and French election add uncertainty.
Dollar hits multi-week highs as Fed seen less dovish than peers
The U.S. dollar rose to an eight-week high against the yen and a five-week peak against sterling on Friday, supported by the Federal Reserve's cautious approach to interest rate cuts amid dovish stances from other central banks.
Dollar extends gains against yen with US economic strength in focus
The dollar strengthened against the yen, euro, and sterling amidst U.S. economic concerns and central bank actions. Bitcoin price rose to $65,105 amidst market fluctuations.
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Asian stocks slide, yen wobbles ahead of BOJ verdict
Asian stocks fell as investors reacted to U.S. rate outlook post Federal Reserve's tempered views. Yen was shaky ahead of Bank of Japan meeting.
Dollar droops ahead of crucial CPI test; yen under pressure
The yen languished near a two-week low, as a still-gaping yield gap between local bonds and U.S. peers continued to encourage selling of the Japanese currency.
Tokyo shares end down on profit-taking
Investors were keeping a close eye on forex markets as the yen weakened following Friday's rally, which came at the end of a volatile week that led to speculation Japanese authorities had intervened to support the unit.
Dollar steady after soft US jobs report; yen starts week on back foot
The yen had clocked last week its strongest weekly gain in more than 17 months following two bouts of suspected Japanese government interventions to pull the currency away from 34-year low of 160.245 per dollar.
Asian stocks surge on tech boost; yen extends gains to cap wild week
MSCI's broadest index of Asia-Pacific shares outside Japan rose 1.5% and was set for a second straight week of gains. Hong Kong's Hang Seng Index spiked 2% higher, on course for a 5% gain for the week.
Asia stocks wobble on rate cut delays; yen leaps
Oil fell sharply overnight as the prospect of cuts seemed more distant and after a surprise jump in U.S. stockpiles, with Brent crude futures hitting a seven-week low of $83.44. [O/R]
Stocks in Asia rise, yen wobbles after volatile start to week
China stocks were mixed in early trading with the blue-chip index easing 0.07%, while Hong Kong's Hang Seng index was up 0.5%.
Yen clings to sharp gains after suspected intervention, Fed in focus
The Japanese currency was trading a touch lower 0.16% at 156.56 per dollar, but was well off its 34-year low of 160.245 hit on Monday when traders say yen-buying intervention by Tokyo drove a sizeable rebound of nearly six yen.
Yen rebounds after hitting 34-year low past 160 per dollar
The yen surged after diving to a new 34-year low past 160 per dollar on Monday as a forecast-beating US inflation reading dented expectations for Federal Reserve interest rate cuts this year. That, along with push-back by US Federal Reserve decision-makers warning against cutting too soon, has led investors to revise their outlook for how many reductions there would be this year.
Yen sinks to 34-year low past 160 per dollar
Friday's forecast-beating reading on the US personal consumption expenditures (PCE) index came after the Bank of Japan (BoJ) refused to tighten monetary policy further at its meeting last week.
Japan's yen hits 34-year low after BOJ holds interest rates
The yen fell by about 0.2% and weakened to 156.1 per dollar in the minutes after the announcement. The yen also nudged down to its weakest almost 16 years at 167.38 per euro and its weakest in nearly a decade on the Australian dollar.
Asia stocks, yen tentative with eyes on BOJ decision
U.S. stock futures jumped after tech giants Alphabet and Microsoft reported quarterly results that beat Wall Street estimates. Nasdaq futures advanced more than 1%, while S&P 500 futures rose 0.7%.
Fragile yen could make BOJ's Ueda tilt more towards hawkish stance
The BOJ chief will be mindful of avoiding the episode of 2022, when his predecessor's dovish remarks triggered a yen plunge that forced Tokyo to intervene to prop up the currency.
Yen traders wary of intervention as Japan warns against drop
Following weeks of flirting with the closely watched 152 level versus the greenback, the yen blew straight through this mark on Wednesday and all the way to 153 as US inflation data reverberated through global markets.
Why is the Japanese yen so weak?
The yen has fallen despite Japan's first interest rate hike since 2007 and optimism about the economy. It traded at 153.24 per dollar on April 10, its weakest since 1990 and in real terms it is at its weakest since at least the 1970s.
Japan warns against excessive yen moves, repeats verbal intervention
The dollar fell to a two-week low of 150.95 yen after the remarks, as repeated verbal warnings by authorities keep investors on guard against the chance of yen-buying intervention.
Dollar index near highest level in four months; yen pinned close to 152
The Japanese yen was last at 151.8 per dollar, little recovered from last week's slump to 34-year lows of 151.975, as the Bank of Japan's historic policy shift only served to underscore its outlier status. While the BOJ raised rates for the first time in 17 years, its policymakers' commitments to go slow on further increases have hammered the yen especially given the still-wide Japan-U.S. yield gap.
China shares soar, Japan slides as yen pinned near intervention zone
Chinese shares led a rally around most of Asia on Monday amid a broadly optimistic global economic backdrop, but Japanese shares tumbled with the yen pinned near levels that have traders on guard for a currency intervention.
China shares jump, Japan tumbles with yen pinned near intervention zone
U.S. stock futures also pointed firmly higher following a market holiday on Friday, when the Federal Reserve released data showing their preferred inflation measure indicated price pressures are further easing, bolstering bets for a June interest rate cut.
Dollar firm after Fed comments; yen under close watch
Meanwhile, although still not far from the 152 mark, the yen was holding its ground against the greenback after Japan's top monetary officials on Wednesday suggested they were ready to intervene.
Yen hits 34-year low ahead of key US inflation test
For the quarter ending later this week the yen is the worst-performing major, down more than 7% on the dollar even after Japan's exit last week from negative interest rates.
Dollar steadies, yen teeters ahead of key US inflation data
The yen traded at 151.52 per dollar early in the Asia session, within a whisker of 151.94 where Japanese authorities stepped in during October 2022 to buy the currency.
Dollar continues recovery from selloff, yen watched for intervention
Many economists and analysts expect the U.S. economy to slow in the fourth quarter, which makes further rate hikes less likely and will dent the appeal of the greenback, which has benefited from the relative strength of the United States compared to other major economies.
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