Yen rises amid fragile sentiment ahead of BOJ, Fed decisions

Home Business Yen rises amid fragile sentiment ahead of BOJ, Fed decisions 29-07-2024 10:46 AM Ammon News - The yen edged higher on Monday, reversing early declines, with sentiment still fragile following the Japanese currency's best weekly rally since late April after a U.S. tech-led stock rout ignited demand for safe haven assets. Traders are now looking ahead to policy decisions by the Bank of Japan and the Federal Reserve, both on Wednesday, for further direction. Rising speculation for a BOJ interest rate hike this week has helped buoy the yen, with the Fed also widely expected to set the stage for a September rate cut. Investor were also wary of further geopolitical volatility, with Israel weighing a response to a deadly rocket strike in the Israeli-occupied Golan Heights which Israel and the United States blamed on Lebanese armed group Hezbollah. The dollar was last down 0.14% at 153.51 yen after slipping as much as 0.49% to the cusp of 153 at one point. It had started the day by gaining as much as 0.36%, as the global equity market rebound from Friday extended into Monday in Asia, with Japan's Nikkei stock average (.N225) up more than 2%. The dollar dipped as low as 151.945 on Thursday for the first time since May 3, and ended the week down 2.4%. Reuters

Home Business

Yen rises amid fragile sentiment ahead of BOJ, Fed decisions

29-07-2024 10:46 AM

Ammon News - The yen edged higher on Monday, reversing early declines, with sentiment still fragile following the Japanese currency's best weekly rally since late April after a U.S. tech-led stock rout ignited demand for safe haven assets.

Traders are now looking ahead to policy decisions by the Bank of Japan and the Federal Reserve, both on Wednesday, for further direction. Rising speculation for a BOJ interest rate hike this week has helped buoy the yen, with the Fed also widely expected to set the stage for a September rate cut.

Investor were also wary of further geopolitical volatility, with Israel weighing a response to a deadly rocket strike in the Israeli-occupied Golan Heights which Israel and the United States blamed on Lebanese armed group Hezbollah.

The dollar was last down 0.14% at 153.51 yen after slipping as much as 0.49% to the cusp of 153 at one point.

It had started the day by gaining as much as 0.36%, as the global equity market rebound from Friday extended into Monday in Asia, with Japan's Nikkei stock average (.N225) up more than 2%.

The dollar dipped as low as 151.945 on Thursday for the first time since May 3, and ended the week down 2.4%.

Reuters

no comments

Notice

All comments are reviewed and posted only if approved.
Ammon News reserves the right to delete any comment at any time, and for any reason, and will not publish any comment containing offense or deviating from the subject at hand, or to include the names of any personalities or to stir up sectarian, sectarian or racial strife, hoping to adhere to a high level of the comments as they express The extent of the progress and culture of Ammon News' visitors, noting that the comments are expressed only by the owners.

name : *
email
	show email
comment : *
Verification code :	Refresh write code :