Tag - forex

 
 

FOREX

The yen traded in the 143 range against the dollar on Monday, a three-week high.
BUSINESS / Markets
Aug 26, 2024
Dollar sinks against the yen, hovers near 2½-year low to sterling
The U.S. dollar also hovered near its lowest in 13 months against the euro.
The yen's rebound is clouding an outlook for Japanese firms' earnings that have enjoyed a boost from the weak yen.
BUSINESS / Companies
Aug 22, 2024
Yen’s rebound threatens earnings growth in Japan
Weak demand in China and the risk of a slowing U.S. economy are fueling worries about how sustainable their earnings growth will be.
The refrain from linking the ruble's fall to the events unfolding just 530 kilometers southwest of Moscow illustrates a push within Russia to prevent bad economic news from reaching the wider public.
BUSINESS / Economy
Aug 16, 2024
Silence reigns in Russia over linking ruble fall to Ukrainian attack
The ruble touched a 10-month low against the dollar and the lowest level against the yuan since June 24 in the Aug. 13 session.
What are known as yen carry positions in the international monetary market appear to have been rapidly unwound as the yen has rallied about ¥20 per dollar in about a month after hitting a 37-year low.
BUSINESS / Markets
Aug 12, 2024
Yen carry positions rapidly unwound amid recent yen rally
In the yen carry trade, investors borrow yen funds at low interest rates and sell them for other currencies with higher interest rates.
An electronic board displaying Topix and the yen exchange rate against the U.S. dollar outside a brokerage in Tokyo on Tuesday.
BUSINESS
Aug 9, 2024
Tokyo’s Monday stock crash an afterthought by Friday
Concern remained, and the search for a coherent explanation as to why Tokyo stocks crashed and shook investors globally was ongoing.
Traders work on the floor of the New York Stock Exchange on Monday as selloffs in global markets, including Japan’s Nikkei 225 index, deepened amid concerns about a slowdown in the global economy.
EDITORIALS
Aug 9, 2024
BOJ rate hike spooked markets, but it's not the sole culprit
Unwinding decades of loose monetary policy was always going to be challenging, and the global economy must brace for similar adjustments from other central banks.
As investors look for opportunities in the new environment created by the Bank of Japan and the resulting market turmoil, there is broad consensus that they will have to reevaluate what they thought they knew about the country.
BUSINESS / Markets
Aug 7, 2024
Japan morphs into the center of worry for global investors
In less than a week, Japan has completely upended the world’s expectations for its markets and economy.
The rate of the yen against the dollar displayed in the trading room at a foreign exchange brokerage in Tokyo on April 25.
BUSINESS / Markets
Aug 7, 2024
Japan's April yen-buying intervention sets new daily record
Quarterly data from the Finance Ministry showed that Japan spent a record ¥5.92 trillion on a single-day yen-buying intervention on April 29.
An electronic stock board displaying the Nikkei 225-issue Nikkei average outside a securities firm in Tokyo on Tuesday.
BUSINESS / Markets
Aug 6, 2024
Tokyo stocks rebound 10% following Monday’s mad rout
The yen, which had strengthened to the ¥141 mark on Monday from almost ¥162 just weeks earlier, was trading around ¥145 to the dollar on Tuesday.
The 225-issue Nikkei stock average dropped more than 4,000 points on Monday.
BUSINESS / Markets
Aug 5, 2024
Nikkei plunges by 12% as it registers largest-ever point fall
The drop exceeds the point fall recorded Oct. 20, 1987, the day after Black Monday in New York.
Bank of Japan Gov. Kazuo Ueda attends a news conference after the central bank's policy meeting, in Tokyo on Wednesday.
BUSINESS / Economy
Aug 1, 2024
BOJ’s sudden hawkishness attributed to yen defense
Economists believe political pressure may have had something to do with the central bank’s shift in stance.
Japanese currency authorities spend ¥5.5 trillion to prop up the yen against the dollar in the past month.
BUSINESS
Aug 1, 2024
Japan spent ¥5.5 trillion to prop up the yen in past month
The latest action appears to have helped reverse the tide on the yen’s weakness.
Finance Minister Shunichi Suzuki speaks during a news conference at a Group of 20 finance chiefs meeting in Rio de Janeiro on Friday.
BUSINESS / Markets
Jul 27, 2024
Japan touts G20 reaffirmation of forex commitments as key achievement
The commitments say G20 nations recognize that disorderly movements in exchange rates can have adverse implications for economic and financial stability.
Some investors are warning that a yen rally is fragile, as was on show this week when the yen rapidly retraced an advance after Thursday’s stronger-than-expected U.S. economic growth figures.
BUSINESS / Markets
Jul 27, 2024
‘Crazy’ yen rally is at risk of shattering as soon as Wednesday
Swaps markets suggest a roughly 45% chance of the Bank of Japan hiking rates by 15 basis points at the conclusion of its July 31 policy meeting.
Japanese stocks are down 10% from their July peak as the yen strengthens.
BUSINESS / Markets
Jul 26, 2024
Yen melt-up nudges Japanese stocks into correction territory
Japan’s benchmark index is now down 10% from its July peak, meeting the textbook definition of a market correction.
Former U.S. President and 2024 Republican presidential candidate Donald Trump speaks during a campaign rally at the Bojangles Coliseum in Charlotte, North Carolina, on Wednesday.
BUSINESS / Economy
Jul 26, 2024
Trump wants a weaker dollar, but Wall Street doubts he’ll get one
Donald Trump has completely overhauled the Republican Party in his populist image and named a fellow strong-dollar skeptic as his running mate.
The Nikkei stock index fell to a three-month low on Thursday.
BUSINESS / Markets
Jul 25, 2024
Nikkei closes at 3-month low as yen strengthens
The 225-issue average fell 3.28% to end the day at 37,869.51, its lowest close since April 25.
The yen strengthened Wednesday to break the psychological threshold of ¥155 against the dollar, with technical indicators suggesting the momentum can continue.
BUSINESS / Markets
Jul 24, 2024
Yen extends advance as unwinding of global carry trades ramps up
Investors are betting on more rate hikes in Japan and the chance of further intervention by authorities to prop up the Japanese currency.
Some economists say a sticky weak yen trend would have a negative impact on Japan's real wage growth.
BUSINESS / Economy
Jul 24, 2024
Yen rally could help end crushing wage decay in Japan
The Japan Research Institute anticipates real wage growth turning positive in the July-September quarter assuming ¥155 to the dollar.
The exchange rate for the Japanese yen against the euro (left) and the U.S. dollar is displayed at a foreign exchange brokerage in Tokyo on June 27.
BUSINESS / Markets
Jul 23, 2024
Citi flags possible euro-yen intervention if rate nears ¥180 level
The euro-yen pair traded as high as ¥175.43 on July 11 — a record since the common currency was launched in 1999 — before retreating.

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