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☆ Japan not seeking a strong yen but a stable currency, David Roche says
▼ + stars: | 2024-05-09 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

Japan is not seeking a strong yen but rather aiming for a relatively stable currency, according to veteran investor David Roche. The Japanese yen has been on a roller coaster ride, with the currency breaking past 160 against the greenback last week — steepest decline in more than three decades. "The Japanese are not aiming at a particularly strong yen. Japan could not "possibly speak to have policy that really results in a strong yen unless they tighten monetary policy," Roche said, adding that it would involve raising interest rates by at least 50 basis points and allowing "unsterilized intervention" of the yen. As far as I can see from the statistics, they've [Bank of Japan] done nothing like that," Roche noted.

Persons: David Roche, Roche, CNBC's Organizations: greenback, Independent, Bank of Japan, Bank of Locations: Japan, Bank of Japan

☆ Yen eases despite intervention threat, Aussie steady before RBA
▼ + stars: | 2024-05-07 | by ( ) www.cnbc.com time to read: +3 min

The yen continued to drift lower against the dollar on Tuesday as gaping interest rate differentials weighed on the currency, despite fresh warnings from Japanese officials following two rounds of suspected dollar-selling intervention last week. The U.S. dollar gained 0.22% to 154.235 yen in early Asian trading, adding to its 0.58% rally from Monday. The Aussie edged up 0.17% to $0.6636, heading back towards the high of $0.6650 from Friday, a level last seen on March 8. All but one of the 37 economists surveyed in a Reuters poll expect the RBA to keep rates on hold, with the other predicting a quarter point rate hike, amid stubbornly high inflation. "A different set of central bankers would have had the policy rate higher sooner on the same set of data," Taylor Nugent, a markets economist at National Australia Bank, wrote in a note.

Persons: Michele Bullock, Masato Kanda, Carol Kong, Bullock, Taylor Nugent Organizations: U.S, Reserve Bank of Australia, The U.S ., Bank of Japan, Japan's Ministry of Finance, Federal, Commonwealth Bank of Australia, Bank of, National Australia Bank Locations: The, Japan

☆ Yen poised for best week in over a year; dollar waits on U.S. jobs data
▼ + stars: | 2024-05-03 | by ( ) www.cnbc.com time to read: +3 min

Elsewhere, the dollar lost ground against most of its peers and was headed for its worst week in nearly two months, in part due to the sharp rise in the yen this week. The euro ticked up 0.05% to last trade at $1.0730, and was eyeing a weekly gain of 0.35%. "Recent Fed speech has acknowledged the lack of progress on inflation and the desire to maintain the current level of policy rates for longer. Down Under, the Australian dollar edged 0.07% higher to $0.6570, and was on track to gain nearly 0.6% for the week. The New Zealand dollar tacked on a marginal 0.03% to $0.5963, and was eyeing a 0.4% weekly gain.

Persons: Tokyo's, Vishnu Varathan, Jerome Powell, Sterling steadied, Tai Hui Organizations: Traders, Bank of Japan, Ministry of Finance, Mizuho Bank, Federal, Fed, Morgan Asset Management, New Zealand Locations: Asia, tenterhooks, Tokyo, Japan

☆ Japanese yen: How the currency’s record slump is squeezing the Japanese
▼ + stars: | 2024-05-03 | by ( Juliana Liu | ) edition.cnn.com time to read: +7 min

Higher interest rates in the United States and other countries mean investors can make bigger returns on investments there than they can in Japan. This encourages carry trades, in which investors borrow money in yen to invest it in higher-yielding assets priced in other currencies. That weakens the Japanese currency. A Big Mac costs 50% more in the next cheapest G10 currency, the New Zealand dollar, than it does in yen, he added. … and lots of drawbacksBut the falling yen has caused much pain at home and not just for small businesses like Japan Fraise.

Persons: hasn’t, Hiroko Ishikawa, “ It’s, ” Ishikawa, “, we’re, We’re, Himari Semans, That’s, ” Nigel Green, Kit Juckes, Warren Buffett, ” Sean Callow, ”, Sato Hitomi, Semans, I’ve, —, Laura He, Chris Lau Organizations: Tokyo CNN, US, Reserve, CNN, Nikkei, Bank of Japan, deVere, greenback, Labor, Societe Generale, New Zealand, Japan’s National Tourism Organization, Tokyo’s Locations: Hong Kong, Tokyo, Japan, United States, Sydney, Hawaii

☆ Japan's yen had a rollercoaster week amid suspected intervention. Here's what you need to know
▼ + stars: | 2024-05-03 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +3 min

An undated photographic illustration of Japanese yen and the U.S. dollar bank notes. The yen touched 160.03 against the greenback on Monday, for the first time since 1990, but strengthened to 156 levels later that day amid speculation about an intervention by Japanese authorities. Japanese authorities are yet to issue an official statement confirming their role in propping up the currency. In the last few decades, while other global central banks have tightened their policies, Japan had maintained its ultra-loose policy, leading to concentrated carry trades in the Japanese yen. Market participants believe Japanese authorities will intervene further to prop up the currency.

Persons: Glowimages, they've, Nicholas Smith, Kazuo Ueda, Edward Yardeni Organizations: U.S, Glowimages, CNBC, Bank of America Global Research, Bank of Japan, Bank of, Federal Reserve, Yardeni Research Locations: propping, Japan, U.S, Bank of Japan

☆ Yen clings to sharp gains after suspected intervention, Fed in focus
▼ + stars: | 2024-04-30 | by ( ) www.cnbc.com time to read: +3 min

The yen held its line against the dollar on Tuesday after making sharp gains the previous day in moves that traders said were sparked by suspected intervention by Japanese authorities. "There is clearly a possibility that the sharp and sudden lifts in the JPY were sparked by intervention. Official figures that would reveal whether intervention did in fact occur won't be available until late May. The Japanese currency still sits lower than it was before the Bank of Japan's policy announcement last week. The Fed is expected to strike a hawkish message, meaning more yen selling is likely, CBA's Kong said.

Persons: haven't, Masato Kanda, Carol Kong, bode, CBA's Kong, pare, Sterling, bitcoin Organizations: Federal, Commonwealth Bank of Australia, Trading, Markets, Bank of, Fed, Traders, European Central Bank Locations: Buenos Aires, Argentina, Tokyo, Asia, Japan, U.S, Bank of England

☆ Dollar a tad softer as markets wait for Fed
▼ + stars: | 2024-04-29 | by ( ) www.cnbc.com time to read: +2 min

Japan's yen was at 158.05 per dollar, up nearly 0.2% in quiet trading with Tokyo markets closed for the first of the country's Golden Week holidays. "The bar is pretty high for a sustained hawkish surprise, which would in turn lift yields," he said, referring to the Fed. "The BOJ disappointment might be transcribed onto the FOMC insofar that they may be more undecided than decidedly hawkish." The Fed is seen holding its benchmark interest rate steady at 5.25%-to-5.5% at the April 30-May 1 meeting. Markets are also on guard for any intervention by Japanese authorities to contain the yen's nearly 11% fall this year.

Persons: Jerome Powell, Vishnu Varathan, Sterling Organizations: U.S, Bank of, Mizuho Bank, Market Committee Locations: Japan, Tokyo, Bank of Japan, Asia, Singapore

In this article JPY= Follow your favorite stocks CREATE FREE ACCOUNTThe Japanese yen has weakened significantly against the dollar in 2022. Stanislav Kogiku | SOPA Images | LightRocket | Getty ImagesThe Japanese yen weakened to 160 against the U.S. dollar in Monday morning trading in Asia. The yen briefly touched 160.03 against the dollar, the weakest level since April 1990 when it touched 160.15, according to FactSet data. The yen has traded around 150 or weaker against the dollar since the Bank of Japan ended its negative interest rate regime in March. Japanese authorities have repeatedly warned against "excessive" moves in the yen, but have made no official announcements about bolstering the currency.

Persons: Stanislav Kogiku, Kazuo Ueda, Ueda, Vincent Chung, Rowe Price's, Chung Organizations: U.S, greenback, Bank of Japan Locations: Asia

☆ BOJ rate hike likely to be 'a lot further away': Hargreaves Lansdown
▼ + stars: | 2024-04-29 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRate hike from Bank of Japan likely to be 'a lot further away on the horizon': Hargreaves LansdownSusannah Streeter, head of money and markets at Hargreaves Lansdown, says it wants to "ensure that inflation stays around the 2% target."

Persons: Hargreaves, Susannah Streeter, Hargreaves Lansdown Organizations: Bank of, Hargreaves Locations: Bank, Bank of Japan

Asia-Pacific markets were mixed on Friday as investors in Asia look to the Bank of Japan's policy decision and inflation figures out of Tokyo. Thirteen economists polled by Reuters unanimously forecast that the BOJ will leave its monetary policy unchanged. Tokyo's headline inflation rate for April came in at 1.8%, slowing from the 2.6% in March. Core inflation in the capital — which strips out prices of fresh food — sharply fell to 1.6% from March's 2.4%, missing expectations of 2.2% from economists polled by Reuters. Tokyo inflation data is widely considered as a leading indicator of nationwide trends.

Persons: Cherry Organizations: Nippon Budokan, Bank of, Reuters Locations: Tokyo, Japan, Asia, Pacific

☆ Bank of Japan keeps monetary policy unchanged, sees slightly higher inflation in fiscal 2024
▼ + stars: | 2024-04-26 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

A pedestrian walks past the Bank of Japan (BoJ) building in central Tokyo on July 28, 2023. The Bank of Japan kept its policy rate unchanged Friday after its monetary policy meeting, holding its benchmark policy rate at 0%-0.1%. While the move was expected, this comes after Tokyo's April inflation came in lower than expected, with the core inflation rate at 1.6% compared to expectations of 2.2% from Reuters. The bank previously said in March it bought about six trillion yen ($83.5 billion) worth of bonds per month in the past. No comment was made by the BOJ on the yen , which has steadily weakened since the BOJ ended its negative interest rate policy last month and abolished its yield curve control policy.

Organizations: Bank of Japan, The Bank of Japan, Reuters, U.S Locations: Tokyo

☆ Japanese central bank's stance can be viewed as dovish, says former BOJ official
▼ + stars: | 2024-04-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJapanese central bank's stance can be viewed as dovish, says former BOJ officialKazuo Momma, executive economist at Mizuho Research & Technologies and former Bank of Japan assistant governor, discusses Bank of Japan's decision to keep its key rate unchanged.

Persons: Kazuo Momma Organizations: Mizuho Research & Technologies, Bank of Japan

☆ Yen at its weakest in decades as BOJ meets
▼ + stars: | 2024-04-26 | by ( ) www.cnbc.com time to read: +3 min

The yen was parked by a 34-year low on the dollar and decade lows on other crosses ahead of a Bank of Japan meeting where interest rates are expected to stay low, while the dollar dipped elsewhere on softer-than-expected U.S. growth data. The yen , however, fell to its weakest since 1990 at 155.75 per dollar, tracking a sharp rise in U.S. yields as separate figures showed a surge in an inflation measure. The size and persistence of the yield gap has encouraging short yen positions and drives Japanese money into dollar assets such as Treasuries, weighing on the currency. The Bank of Japan already hiked rates at a landmark meeting in March where it ended years of negative interest rates. The New Zealand dollar was a touch firmer in Asia morning trade at $0.5960 and has gained in the previous four sessions.

Persons: —, Shunichi Suzuki, Nathan Swami, I'm, Sterling Organizations: Bank of Japan, Japanese Finance, Bank of, Citi's, New Zealand Locations: Asia, Bank of Japan, Citi's Asia, Pacific, Singapore

☆ Japanese yen hits fresh 34-year low despite verbal intervention from authorities
▼ + stars: | 2024-04-25 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +2 min

In this article JPY= Follow your favorite stocks CREATE FREE ACCOUNTThe Japan flag is juxtaposed against a Japanese yen bank note. Javier Ghersi | Moment | Getty ImagesThe yen slipped past 155 against the U.S. dollar on Thursday, touching a new 34-year low against continued strength in the greenback. The weakness comes as the Bank of Japan is due to release its monetary policy decision Friday and in spite of verbal warnings from Japanese authorities. Some market watchers had speculated that the 155 level would prompt intervention after the currency languished at multi-decade lows for a month. The yen has weakened 4.2% since the BOJ's March meeting, worrying Japanese authorities and investors.

Persons: Javier Ghersi, Shusuke Yamada, Jerome Powell, Appio Organizations: U.S, Bank of Japan, BofA Securities, Federal, First Eagle Investments, CNBC, Korean Locations: Japan, South Korea

☆ Markets wary of intervention as yen struggles at 155 level
▼ + stars: | 2024-04-25 | by ( ) www.cnbc.com time to read: +3 min

Having traded in a tight range over the past few days, a buoyant dollar finally broke above the 155 yen level for the first time since 1990 in the previous session, and was last steady at 155.34 yen in early Asia trade. The breach of the 155 yen level comes as the BOJ meets to discuss monetary policy, though expectations are for the central bank to keep its short-term interest rate target unchanged following last month's landmark exit from negative rates. "We expect the BOJ meeting to deliver a marginally hawkish hold outcome," said Carl Ang, fixed income research analyst at MFS Investment Management. Continued expectations of gradual policy tightening and a low terminal policy rate make it difficult for the yen to appreciate significantly, even if at historically depressed levels." The dollar steadied at 105.79 against a basket of currencies, pulling away from a nearly two-week low hit in the previous session.

Persons: Carl Ang, Kazuo Ueda, Justin Smirk Organizations: Bank of Japan, MFS Investment Management, Reserve Bank of Australia, Westpac, New Zealand Locations: Tokyo, Asia, Australia

☆ It's the perfect time for the BOJ's 'slow and patient' approach to monetary policy: Nomura
▼ + stars: | 2024-04-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIt's the perfect time for the BOJ's 'slow and patient' approach to monetary policy: NomuraGareth Nicholson of Nomura says the BOJ's "two steps forward, one step back" approach to monetary policy could be positive for the Japanese equity market.

Persons: Nomura Gareth Nicholson, Nomura

☆ Firm dollar drags yen down closer to intervention range
▼ + stars: | 2024-04-23 | by ( ) www.cnbc.com time to read: +4 min

A firm U.S. dollar had the yen locked near a fresh 34-year low on Tuesday, keeping investors on heightened intervention watch as they looked ahead to key U.S. inflation report and the Bank of Japan's rate decision this week. A firm U.S. dollar had the yen locked near a fresh 34-year low on Tuesday, keeping investors on heightened intervention watch as they looked ahead to key U.S. inflation report and the Bank of Japan's rate decision this week. Traders have been keeping wary eye as yen slips towards 155.00, a level considered by many participants as the new trigger for intervention by Japanese authorities. The weak yen complicates the BOJ's policy path, with some market players betting the central bank could come under pressure to hike rates sooner than it wants to slow the currency's decline. Markets are currently pricing in a 46% chance of the Fed's first rate cut starting in September, with November not far behind at 42%, according to the CME FedWatch Tool.

Persons: Carol Kong, Shunichi Suzuki, BoE, Sterling, bitcoin Organizations: Bank of, Traders, Bank of Japan's, Commonwealth Bank of Australia, Japan's Finance, Federal Reserve, Investors, Commonwealth Bank of Australia's, European Central Bank, Bank of England Locations: Japan, Iran, Israel, Tokyo, Japan's, U.S, Commonwealth Bank of Australia's Kong

☆ Japan and South Korea could coordinate currency intervention, but they may need U.S. support
▼ + stars: | 2024-04-22 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +3 min

SeongJoon Cho | Bloomberg via Getty ImagesInvestors have been monitoring for potential intervention in the Japanese yen, but recent comments have triggered discussion about "coordinated intervention" with South Korea. The currency has struggled, slipping past 150, since the Bank of Japan raised rates in March. Following that volatility, the U.S. last week acknowledged Japan and South Korea's "serious concerns" over the recent sharp depreciation in their currencies. The comments spurred chatter about possible coordinated currency intervention. Brady said South Korea and Japan could amplify their individual messages to the market by coordinating policy, which might also enhance the short-term impact compared to unilateral action.

Persons: SeongJoon Cho, James Brady, Brady Organizations: Korean, Woori, Bloomberg, Getty, U.S ., Bank of, South Korean, greenback, Authorities, Treasury, Bank of Japan Locations: Seoul, South Korea, Bank of Japan, U.S, Japan, South, Tokyo, Bank of Korea

☆ Currencies calm but cautious after a weary week
▼ + stars: | 2024-04-22 | by ( ) www.cnbc.com time to read: +3 min

U.S. one hundred dollar bills are being shown in this picture illustration taken in Buenos Aires, Argentina, on Dec. 15, 2023. Eyes are on the yen this week, with the Bank of Japan's, or BOJ, Friday policy review the notable item on the economic calendar. The yen has been one of the biggest losers against the dollar this year, with losses mounting to 9%. The ECB's Robert Holzmann, however, said the ECB probably will not cut rates this year as much as planned if the Fed does not move. BoE Governor Andrew Bailey and Deputy Governor Dave Ramsden alluded last week to Britain's inflation slowing as expected.

Persons: Chris Weston, Weston, Kazuo Ueda, BoE, ECB policymaker Madis Muller, Christine Lagarde, Robert Holzmann, BoE Governor Andrew Bailey, Dave Ramsden, Sterling, Bitcoin Organizations: U.S ., Bank of Japan's, Federal Reserve, Monetary Fund, Bank, Washington , Bank of Japan, European Central Bank, Bank of England, ECB policymaker, ECB, Treasury Locations: Buenos Aires, Argentina, East, Tehran, Iran, Washington, United States, Japan, South Korea, Washington ,, U.S

☆ Japan's March inflation slows to 2.6%, eyes are now on Bank of Japan move
▼ + stars: | 2024-04-19 | by ( ) www.cnbc.com time to read: +1 min

Japan's core inflation slowed in March due to mild rises in food prices while staying comfortably above the central bank's 2% target, government data showed on April 19, 2024. Japan's core inflation slowed in March due to mild rises in food prices while staying comfortably above the central bank's 2% target, government data showed on Friday. The nationwide core consumer price index (CPI), which excludes fresh food items, rose 2.6% in March from a year earlier after rising 2.8% in February. The "core core" index, which excludes both fresh food and energy costs and is closely watched by the Bank of Japan as a key gauge of broader inflation trends, rose 2.9% after increasing 3.2% in February. The BOJ has said a virtuous cycle of sustained, stable achievement of its 2% price target and strong wage growth was crucial for normalizing policy.

Organizations: Bank of Japan

☆ Aussie, New Zealand dollars tumble on risk-off moves; yen rises
▼ + stars: | 2024-04-19 | by ( ) www.cnbc.com time to read: +4 min

The risk-sensitive Australian dollar tumbled 0.8% to $0.6370, and the New Zealand dollar fell 0.63% to $0.5864. ABC News reported late on Thursday that Israeli missiles have hit a site in Iran, citing a U.S. official. The shift in rate expectations has come on the back of a slew of resilient U.S. economic data that has repeatedly surpassed expectations, alongside still-sticky inflationary pressures. "Although policy easing may arrive a bit later than previously expected, we still believe the FOMC will start cutting rates before the year is out," said economists at Wells Fargo. Against a basket of currencies, the greenback rose 0.1% to 106.28, hovering near a more than five-month high of 106.51.

Persons: Carol Kong, I'm, Kazuo Ueda, it'll, CBA's, Jerome Powell Organizations: New, Hamas, U.S ., U.S, New Zealand, ABC News, Commonwealth Bank of Australia, Bank of Japan, European Central Bank, ECB Locations: New Zealand, Iran, United States, Japan, South Korea, U.S, CBA's Kong, Wells Fargo

☆ Dollar steadies, yen pinned near 152
▼ + stars: | 2024-04-03 | by ( ) www.cnbc.com time to read: +4 min

The dollar was steady on Friday after data showed U.S. inflation remained sticky but easing gradually, keeping alive the chance of the Federal Reserve cutting rates in June, while the yen slid back to the key 150 per dollar level. The dollar was on the front foot on Wednesday, pinning the yen near its lowest in decades though the heightened threat of currency intervention by Tokyo capped further declines in the Japanese currency. The yen was last at 151.585 per dollar, languishing near last month's slump to 34-year lows of 151.975 in the wake of the Bank of Japan's historic policy shift. The dollar , which on Tuesday touched a nearly five-month high of 105.10 against a basket of currencies, was last steady at 104.76. "I think the dollar will hold up pretty well in the near term, and that will be a headwind for the other major currencies."

Persons: Morgan Stanley, Koichi Sugisaki, Sterling, Carol Kong, CBA's Organizations: Federal Reserve, Bank of, Ministry of Finance, U.S ., U.S, Commonwealth Bank of Australia, Traders, Fed, New Locations: Tokyo, Japan, U.S, CBA's Kong, New Zealand

☆ Dollar ascendant as Fed cut bets pared, jawboning props up yen
▼ + stars: | 2024-04-02 | by ( ) www.cnbc.com time to read: +3 min

The U.S. dollar hovered near a 4-1/2-month high against major peers on Tuesday as traders rushed to push back bets for the Federal Reserve's first interest rate cut this year. The U.S. dollar hovered near a 4-1/2-month high against major peers on Tuesday as traders rushed to push back bets for the Federal Reserve's first interest rate cut this year. The U.S. rate futures market now factors in 61.3% odds of a Fed rate cut in June, down from about 70.1% probability a week ago, according to the CME's FedWatch tool. The Japanese yen firmed slightly on Tuesday to 151.565 per dollar, after dipping to 151.77 the previous day. Japanese authorities intervened in 2022 when the yen slid toward a 32-year low of 152 to the dollar.

Persons: –, Richard Franulovich, Sterling, Shunichi Suzuki, Westpac's, skidding, cryptocurrency bitcoin Organizations: U.S, Federal, Treasury, Bank of Japan's Locations: U.S, Japan

☆ Dollar steady as PCE data sets up June rate cut bets; yen in focus
▼ + stars: | 2024-04-01 | by ( ) www.cnbc.com time to read: +3 min

The dollar was broadly steady on Monday as data showing easing U.S. prices bolstered bets that the Federal Reserve could cut interest rates in June, while the yen loitered near 152 per dollar keeping traders on edge on the threat of intervention. The dollar was broadly steady on Monday as data showing easing U.S. prices bolstered bets that the Federal Reserve could cut interest rates in June, while the yen loitered near 152 per dollar keeping traders on edge on the threat of intervention. The report also showed consumer spending rising by the most in just over a year last month, underscoring the economy's resilience. The yen touched a 34-year low against the dollar of 151.975 on Wednesday and was last at 151.315 per dollar, a shade stronger, on Monday. In other currencies, the Australian dollar rose 0.21% to $0.654, while the New Zealand dollar was 0.20% higher at $0.599.

Persons: Jerome Powell, Sterling, Shunichi Suzuki, bitcoin Organizations: Federal, Commerce Department's, Reuters, Traders, Citi, Japan, Bank of Japan, Ministry of Finance, Financial Services Agency, New Zealand Locations: Japan

☆ Japan's finance minister says 'speculative' moves in currency market impacting yen
▼ + stars: | 2024-04-01 | by ( ) www.cnbc.com time to read: +1 min

The yen has been on a downtrend despite the BOJ's decision on March 19 to end eight years of negative interest rates. Japanese Finance Minister Shunichi Suzuki said on Monday there were some speculative moves in the currency market that did not reflect economic fundamentals, repeating his warning against excessive yen declines. "We will watch currency market developments with a strong sense of urgency, and will respond appropriately against excessive moves without ruling out any options," Suzuki told parliament. Suzuki said various factors are driving currency moves such as the Bank of Japan's decision to end negative interest rates, Japan's current account balance, price moves, geopolitical risks, as well as market players' sentiment and speculative trades. "As for the yen's recent declines, we believe there are some speculative moves that do not reflect fundamentals when taking into account domestic and overseas economic as well as price developments," he said.

Persons: Shunichi Suzuki, Suzuki Organizations: Japanese Finance, Bank of

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