DIRS.INFO The most relevant business & tech news

[1/2] Japanese Yen and U.S. dollar banknotes are seen in this illustration taken March 10, 2023. ET (1500 GMT) with a 152 strike price, analysts said. The dollar shot to 151.92 yen at 9:42 a.m. (1442 GMT), its highest level since October 2022, and then tumbled to 151.20 minutes after the strike price. Earlier, Japanese Finance Minister Shunichi Suzuki said the government would keep monitoring the currency market and respond appropriately. The yen is down almost 14% against the dollar this year.

Persons: Dado Ruvic, Shunichi Suzuki, Marc Chandler, It's, Chandler, Jerome Powell, Geoff Yu, Sterling, Rishi Sunak, Sunak, David Cameron, Suella Braverman, Dhara Ranasinghe, Brigid Riley, Emelia Sithole, Sharon Singleton, Jonathan Oatis Organizations: REUTERS, Japanese Finance, Bank of Japan, Bannockburn Global, United Auto Workers, Federal Reserve, BNY Mellon, British, Thomson Locations: Bannockburn, New York, U.S, Tokyo, Japan, TOKYO

☆ Dollar rallies to fresh one-year high against a beaten-down yen
▼ + stars: | 2023-11-13 | by ( Dhara Ranasinghe | Thomson Reuters | Senior Correspondent On The London Markets Team Covering European Sovereign Bond Markets | ) www.reuters.com time to read: +3 min

[1/2] Japanese Yen and U.S. dollar banknotes are seen in this illustration taken March 10, 2023. Japanese Finance Minister Shunichi Suzuki said the government would keep monitoring the currency market and respond appropriately. The comments had little immediate impact on the yen, which is down almost 14% against the dollar this year. "Given the move in U.S. Treasuries of course the yen is not rallying yet," he said, referring to U.S. bond yields. The dollar on Monday rose to 151.88 yen , its highest level since October 2022.

Persons: Dado Ruvic, Shunichi Suzuki, Sterling, inched, Rishi Sunak, Kit Juckes, Jerome Powell, Geoff Yu, Sunak, David Cameron, Suella Braverman, Dhara Ranasinghe, Brigid Riley, Emelia Sithole, Sharon Singleton Organizations: REUTERS, U.S . Federal, Finance, British, Generale, BNY Mellon, Thomson Locations: U.S, Japan, Tokyo, TOKYO

[1/2] The Bank of Israel building is seen in Jerusalem June 16, 2020. Israel's central bank has played its part too with a flurry of support measures, and has stayed away from rate cuts. At the outset of the war, markets were stunned. "The Bank of Israel took very aggressive action," said Gil Moshe, the head of markets at the Israel unit of U.S. bank Citi. Looking to next year, Shmuel Katzavian, a strategist at Israel's Discount Bank, expects the shekel to continue to strengthen.

Persons: Ronen, Israel's, Yaniv Pagot, Amir Yaron, Geoff Yu, Gil Moshe, Pagot, Shmuel Katzavian, Steven Scheer, Marc Jones, Jan Harvey Organizations: Bank of, REUTERS, Rights, Tel Aviv Stock Exchange, Reuters, U.S . Federal Reserve, BNY Mellon, Reuters Graphics, Israel, Citi, Israel's Discount Bank, Thomson Locations: Bank of Israel, Jerusalem, Gaza, Iran, Lebanon, Israel's, Israel, U.S, London

Deutsche Bank's emerging market carry strategy index had its best year on record in the 12 months to May. Reuters GraphicsOVERCROWDING FEARSInvestors, however, are becoming concerned the carry trade might be becoming too popular for its own good. "You have to be worried about some of these more crowded positions," said Stephen Gallo, European head of FX strategy at BMO Capital Markets. "I think that is big enough to offset any carry trade income," said Yujiro Goto, head of FX strategy for Japan at Nomura. A hypothetical $50,000 invested in a short Norwegian crown, long dollar carry trade in the first three weeks of July would have lost $3,000, according to Refinitiv.

Persons: Refinitiv, Kamakshya Trivedi, Goldman Sachs, Stephen Gallo, Gallo, James Athey, Yujiro Goto, Oliver Brennan, Brennan, Robin Winkler, Goldman's Trivedi, Geoff Yu, BNY Mellon, Harry Robertson, Alun John, Ankur, Rae Wee, Bernadette Baum Organizations: LONDON, Bank of America, FX, Deutsche, Federal Reserve, European Central Bank and Bank of Japan, BMO Capital Markets, Nomura, BNP Paribas, Bank of England, Bank of Japan, Reuters Graphics, Federal, Deutsche Bank, Swiss, Reuters, Korean, BNY, Thomson Locations: SINGAPORE, Japan, European, U.S, America, Asia, London, Singapore

"We are looking into ways to express this (China recovery) theme in our portfolio rather than just say 'let's go long China equity'. "Given the higher risk premium of China stocks, the demand for 'shadowing' China will continue to be strong," Jefferies said. The relative cheapness of European stocks, at least at the start of this year, has also been important. Luxury stocks - less vulnerable to sanctions - have performed well, but geopolitical worries have bruised tech firms, and manufacturing difficulties have hurt commodity stocks. "What is doing extremely well this year is luxury; if you'd bought European miners hoping that China would stimulate, you'd have got it wrong."

[1/3] Examples of Japanese yen banknotes are displayed at a media event in Tokyo, Japan, November 21, 2022. Those positions took a hit when Tuesday's Bank of Japan policy shift allowed 10-year yields to almost double to 0.47%. On Wednesday the long end of Japan's yield curve actually rallied, with 30-year yields down 2.5 bps to 1.545%. "The 10-year yield is still very low ... maybe they will invest in the 20-year." In Australia, where Japan is also the largest foreign player in the bond market, 10-year yields are up about 20 bps.

Economists said the reading pointed to elevated labor costs and inflation staying high, adding pressure on the Federal Reserve to keep raising rates. "Slower rate hikes have been the trend globally of late, but the Fed remains a wild card. Overall, it's a fickle, anxious market ahead of next week’s Fed meeting," said Joe Manimbo, senior market analyst at Convera in Washington. Many in the market believe inflation is moderating and bond yields have peaked, allowing the Fed and other central banks to begin slowing rate hikes when policy-makers meet next week. Gold prices rose, helped by a retreat in the dollar and Treasury yields, as investors anticipate the projection of slower rate hikes at the Fed's meeting on Dec. 13-14.

☆ Stocks rally sputters as growth fears deepen
▼ + stars: | 2022-12-07 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

"We might be transitioning from a situation of worrying about inflation and interest rates, to one where the negatives become weakening growth and falling profits." The growth fears rallied longer-dated bonds and helped the safe-haven U.S. dollar to pause its recent retreat. That is more than 80 bps below the two-year yield as investors reckon on high rates hurting growth. The Australian dollar was broadly steady at $0.6696 despite Australian third-quarter growth coming in a bit below forecasts. The Canadian dollar hovered at 1.3644 per dollar ahead of an expected rate hike from the Bank of Canada later on Wednesday.

☆ Stocks rally sputters as growth fears resurface
▼ + stars: | 2022-12-07 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

SINGAPORE, Dec 7 (Reuters) - Asia's stockmarkets wobbled lower on Wednesday as reality bit on hopes for a soft economic landing in the United States, and investors curbed their enthusiasm about China's reopening. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) fell 0.4% and Japan's Nikkei (.N225) fell 0.5%. The growth fears rallied longer-dated bonds and helped the safe-haven U.S. dollar to pause its recent retreat. That is more than 80 bps below the two-year yield as investors reckon on high rates hurting growth. The Australian dollar was broadly steady at $0.6707 despite Australian third-quarter growth coming in a bit below forecasts.

Search resuls for: "Geoff Yu"

9 mentions found