Yen Hits Seven-Month High; Dollar Soft Ahead of US Inflation
Markets now price a 75% chance the Bank of Japan will raise rates this month as Japanese investors may bring funds home.
8 Articles
8 Articles
Yen hits seven-month high; dollar soft ahead of US inflation
[SINGAPORE/LONDON] The yen surged to a seven-month high on Monday (Sep 7), as traders appeared to reassess their outlook on the embattled currency, thanks to a combination of factors including bets on faster Bank of Japan tightening and expectations that Japanese investors may shift funds home. Read more at The Business Times.
In a session marked by the restricted liquidity in the markets, with Labor Day holiday in the United States, the dollar retreats from the main pairs developed with the decisions of some of the main central banks marked for the next two weeks. The prospect of a wider monetary squeeze in Japan leads to a trigger from the yen, which reached the highest level against the American currency in seven months on Monday. Near 8:55 a.m. (Brazilian time), t…
The yen climbed to the highest level in seven months in front of the dollar, supported by the Bank of Japan's forecast of tightening monetary policy, while the dollar anticipates American inflation data that might determine the interest path in September.
Economy: Direct -- Japanese yen rose to its highest level in seven months today Monday, with clients re-evaluating their expectations of the troubled currency...
On the other hand, the dollar barely dropped 0.07% against the euro.
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- 75% of the sources lean Right
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