The dollar had a rough start to the week, falling to a seven-month low against a basket of significant rivals in Asian trade before stabilizing. The yen was in special focus since traders were betting that the Bank of Japan would further modify its yield control strategy. The dollar index (DXY), which measures the value […]
Despite the US dollar index (DXY) hitting a seven-month low on Monday, the Japanese yen (JPY) hasn’t altered much against the dollar so far this week. The currency market has been rather quiet in the Tuesday trading session. After reaching a 40-year high of 4.0% year-on-year at the end of December last year, the headline […]
Today marked a further strengthening of the Japanese Yen as the USD/JPY fell below the 130 mark for the first time since June 2022. Following the Bank of Japan’s policy reversal in December, speculation has grown about likely future tightening in 2023. Today is a holiday in Japan, so it will be interesting to see […]
Following the Bank of Japan’s (BoJ) unexpected second-in-a-day bond purchase operation, the USD/JPY pair continued to fall from the Asian session into the late North American session. The yen is trying to end a losing streak against the dollar that has lasted five days. In an effort to limit yields, the Bank of Japan announced […]
In an unexpected decision on Tuesday, the Bank of Japan allowed long-term interest rates to climb more, shocking the Japanese yen (JPY) and financial markets and attempting to offset some of the costs of sustained monetary stimulus. following the announcement, the USD/JPY pair slumped to the 130.99 mark, 4.2% lower on the day. This was […]
After Federal Reserve policymakers restated their commitment to raising US interest rates more than markets presently anticipate, the dollar (USD) weakened on Friday but was still on track for its highest weekly gain in a month. It decreased in value vs. the pound (GBP), which increased after a tumultuous day on Thursday in response to […]
According to the finance ministry, Japan spent a record $42.8 billion this month on currency intervention to support the yen. Investors were watching for signs of how much more the government might do to mitigate the JPY’s precipitous decline. The 6.3499 trillion yen ($42.8 billion) figure was about in line with Tokyo money market brokers’ […]
The Bank of Japan kept its ultra-low interest rates and dovish posture on Friday, which caused the Japanese yen to tremble. Meanwhile, the dollar battled to cling to its gains from the previous day as the anticipation of a change in outlook by the Federal Reserve grew. In the wake of the central bank’s decision, […]
After the yen (JPY) hit a 32-year low near 152 to the dollar on Friday, Japanese authorities intervened in the foreign exchange market to buy yen for the second time in a month, a government official and another person familiar with the situation told Reporters. In an effort to combat a global trend of tightening […]
