Trading & Financial News
No Result
View All Result
Friday, June 27, 2025
  • Login
  • Economy
  • Markets
  • Forex News
  • Investing
  • Stock Trading
  • Crypto
Subscribe
Trading & Financial News
  • Economy
  • Markets
  • Forex News
  • Investing
  • Stock Trading
  • Crypto
No Result
View All Result
Trading & Financial News
No Result
View All Result
Home Forex News

Japanese yen surges on BOJ pivot talk; Dollar steadies as rate cheer cools By Investing.com

by Tradinghow
March 10, 2024
in Forex News
A A
0
Japanese yen surges on BOJ pivot talk; Dollar steadies as rate cheer cools By Investing.com
152
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter


© Reuters.

Investing.com– The Japanese yen rose to a one-month high on Thursday amid growing conviction that the Bank of Japan was close to raising interest rates, while the dollar curbed recent losses as Federal Reserve officials presented mixed cues on interest rates. 

Broader Asian currencies were muted, trimming most of their initial gains as investors remained uncertain over the timing and scale of the Fed’s potential rate cuts. 

Yen hits one-month high as BOJ rate hike bets grow

The was the best performer in Asian trade, firming 0.6% to a one-month high of 148.52 against the dollar. 

The yen was boosted by a slew of factors presenting a less dovish outlook for the BOJ. Data showed grew more than expected in January, while a major Japanese union also won big pay hikes for some of its members- pointing to higher overall wages in the coming months.

Additionally, BOJ board member Junko Nakagawa said that the Japanese economy was making steady progress towards the central bank’s 2% inflation target- a scenario that is expected to elicit a rate hike from the BOJ.

Wage growth and inflation are the two biggest considerations for the BOJ in raising interest rates. Strong signals on both fronts saw markets now pricing in the possibility that the BOJ will begin hiking rates by as soon as its – a scenario that bodes well for the yen.

Dollar steadies as markets weigh Powell, Kashkari comments 

The and fell 0.1% each in Asian trade, but traded marginally above a one-month low hit in overnight trade. Pressure on the dollar also came chiefly from a stronger yen. 

The greenback had tumbled in overnight trade after said the bank will cut interest rates in 2024.

But Powell offered few cues on the timing and scale of the Fed’s planned cuts, and reiterated his warning over sticky inflation limiting any monetary easing.

This warning was echoed by , who said that he did not see the Fed cutting rates more than twice, or even once, this year.

Kashkari’s comments spurred some pullback in bets on early rate cuts, and also helped the dollar stem its decline. 

Most other Asian currencies were muted following Kashkari’s comments. An outlier was the , which rose 0.3% on positive . The Aussie was also boosted by strong trade data from major trading partner China.

China clocked a bigger-than-expected in the first two months of 2024, with stronger and signaling some recovery in the country’s trade-heavy businesses. 

But the moved little on Thursday, although it did strengthen further away from the 7.2 level.

The fell 0.1%, while the rose 0.1%. The rose 0.1%, extending an overnight move away from the psychologically important 83 level.

https://primexbt.investments/start_trading/?cxd=459_549985&pid=459&promo=[afp7]&type=IB https://primexbt.investments/start_trading/?cxd=459_549985&pid=459&promo=[afp7]&type=IB https://primexbt.investments/start_trading/?cxd=459_549985&pid=459&promo=[afp7]&type=IB



Source link

  • Trending
  • Comments
  • Latest
The Evolving International Cannabis Landscape

The Evolving International Cannabis Landscape

March 20, 2024
UK Faces Two Decades of No Earnings Growth and More Austerity

UK Faces Two Decades of No Earnings Growth and More Austerity

July 29, 2023
Uniswap Launches Permissionless Bridging Across 9 Networks

Uniswap Launches Permissionless Bridging Across 9 Networks

October 24, 2024
China tech groups lead multibillion-dollar campaign to help exporters sell at home

China tech groups lead multibillion-dollar campaign to help exporters sell at home

April 20, 2025
High Street Retailers Pin Hopes On Discount Splurge In Black Friday Fever

High Street Retailers Pin Hopes On Discount Splurge In Black Friday Fever

0
UK Faces Two Decades of No Earnings Growth and More Austerity

UK Faces Two Decades of No Earnings Growth and More Austerity

0
Learn how to trade. For beginners

Learn how to trade. For beginners

0
Trading for beginners

Trading for beginners

0
Nigerian billionaire, Dangote, sets ambitious goal with .5 billion fertilizer plant

Nigerian billionaire, Dangote, sets ambitious goal with $2.5 billion fertilizer plant

June 27, 2025
Crizac fixes IPO price band at ₹233-245

Crizac fixes IPO price band at ₹233-245

June 27, 2025
Analyzing the Russell Indexes Last Annual Reconstitution

Analyzing the Russell Indexes Last Annual Reconstitution

June 27, 2025
China’s ‘Summer Davos’ offers rare respite from trade war

China’s ‘Summer Davos’ offers rare respite from trade war

June 27, 2025

Recent News

Nigerian billionaire, Dangote, sets ambitious goal with .5 billion fertilizer plant

Nigerian billionaire, Dangote, sets ambitious goal with $2.5 billion fertilizer plant

June 27, 2025
Crizac fixes IPO price band at ₹233-245

Crizac fixes IPO price band at ₹233-245

June 27, 2025

Categories

  • Business
  • Crypto
  • Economy
  • Forex News
  • Investing
  • Markets
  • More
  • Stock Trading
  • Trading for beginners

Site Navigation

  • Home
  • Contact Us
  • Stock Trading
  • Markets
  • Investing
  • Other Links
  • Privacy & Policy
Trading & Financial News

We bring you the fastest breaking news on Trading, forex, and finance submitted from credible and reliable news sources around the world.

© 2023 Tradinghow Useful forex analysis and financial news, submitted by credible news sources around the world.tradinghow.

No Result
View All Result
  • Contact Us
  • Home
  • Economy
  • Crypto
  • Investing
  • Markets
  • Forex News
  • Stock Trading

© 2023 Tradinghow Useful forex analysis and financial news, submitted by credible news sources around the world.tradinghow.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In