And 1 more market on this event.
AI-generated briefing. AI can make mistakes. This is not financial advice.
This headline is a reminder that while the yen has seemingly stabilized around 162 per US dollar, the fallout has yet to fully play out, including the risk that this opens the door wide to a round of corporate price hikes. Should such increases raise new questions about the authorities' policy...
Data it's proven. AI technology bubble, no, it's meaning, weak Yen and strong dollar. How Russia- Ukraine termination...we don't know. Putin's Ten Years War/Third Chechnya War.
Hello Traders! 📉 Stocks 🔻 led by NQ as chip sell-off deepens, Iran strikes continue 🇺🇸 USD 🔄 mixed but firming into NY session 🇪🇺 EUR 🔻 no revisions to CPI growth 🇯🇵 JPY 🔄 steady but Finance Minister threatens "decisive" yen action 🇨🇦 CAD ⬆️ supported by rally in oil 🇬🇧 GBP 🔻 UK gets new PM on Monday
The Japanese yen weakened toward 162.5 per dollar on Friday, hovering near its weakest level in four decades as investors saw little sign of decisive action from Tokyo to support the currency
Top currency gainers are British Pound (1.11%), Swedish Krona (0.80%), New Zealand Dollar (0.70%), Euro (0.40%) and Japanese Yen (0.07%). Biggest losers are Dollar Index (-0.42%) and Indian Rupee (-0.26%).
‘Japan’s retail traders turned the most bearish on the dollar in almost two decades last month amid speculation that official intervention may weaken the currency against the yen.’ www.bloomberg.com/news/article...
The declining Japanese yen this month hit a 40-year low against the strengthening U.S. dollar, meaning American troops stationed in Japan are likely to lose the allowance they receive to offset the cost of overseas goods and services. From Stars and Stripes' Seth Robson:
Top currency gainers are Brazilian Real (1.53%), Norwegian Krone (1.05%), New Zealand Dollar (1.04%), Euro (0.33%), British Pound (0.31%) and Japanese Yen (0.11%). Biggest losers are Indian Rupee (-0.34%) and Dollar Index (-0.29%)
‘The AI trade and the weakening Japanese yen appear closely tied. The low in implied correlation in 2024 occurred on July 3, the same day USD/JPY peaked. This time, the correlation index reached a low on July 10, while the USD/JPY exchange rate peaked on July 8.‘ www.marketwatch.com/story/anothe...
The Japanese yen traded around 162.4 per dollar on Tuesday, holding onto losses from the previous session and hovering near its weakest level in four decades amid the absence of follow-up intervention by Japanese authorities.
Top currency gainers are New Zealand Dollar (0.74%), South Korean Won (0.55%), Norwegian Krone (0.31%), Euro (0.10%), British Pound (0.10%) and Japanese Yen (0.08%). Biggest losers are Indian Rupee (-0.39%) and Dollar Index (-0.12%).
Dollar steady before US inflation data, yen under pressure - https://www.channelnewsasia.com/business/dollar-steady-us-inflation-data-yen-under-pressure-6252256
Dollar mostly flat amid escalating US-Iran tension, yen slides on pension doubts - https://www.channelnewsasia.com/business/dollar-mostly-flat-amid-escalating-us-iran-tension-yen-slides-pension-doubts-6249851
While on market levels to monitor: The Yen has weakened to above ¥162 to the dollar (Bloomberg chart below) following a media report that local pension funds will not be pressured to purchase more domestic securities. This is adding upward pressure on yields…. 1 of 2
REUTERS LIVE:- Dollar wavers amid renewed Iran attacks, yen slides on pensions doubts - www.reuters.com/world/asia-p...
Top currency losers are Indian Rupee (-0.53%), Polish Zloty (-0.40%), South Korean Won (-0.38%), Japanese Yen (-0.17%), British Pound (-0.17%) and Euro (-0.06%). Gains are led by Brazilian Real (0.33%) and Dollar Index (0.09%)
Yen Weakens on Middle East Tensions The Japanese yen weakened to around 162 per dollar on Monday, giving back the previous session’s gains as escalating tensions in the Middle East pressured the currency
Yen Carry Trade of Japan could help destroy the Dollar Bond Market it's not just the Petrodollars we should be watching closely youtu.be/cg8slifrqdg
The yen has fallen more than 16% against the dollar since the first round of intervention in the autumn of 2022 despite the BoJ rate hikes.
MarketWatch also reported that yen short-selling had reached a two-year peak near 155,000 contracts earlier in July, alongside dollar-bullish positioning at a decade high.