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Search resuls for: "International Affairs Masato Kanda"


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NEW YORK, June 26 (Reuters) - The dollar rose against the rouble on Monday, although it was off the 15-month high hit earlier in the session, while the Japanese yen gained modestly against the greenback following comments from the country's top currency diplomat. The Russian rouble weakened 0.90% versus the greenback at 84.40 per dollar after hitting its weakest level since March 2022. Rouble opens at 15-month low vs dollarThe dollar was softer against the yen, after Vice Finance Minister for International Affairs Masato Kanda said Japan was not ruling out any options in possible responses to excessive currency moves. The Japanese yen strengthened 0.11% versus the greenback at 143.52 per dollar. The Bank of Japan last intervened in the yen when it traded around 145 per dollar.
Persons: Vladimir Putin, Yevgeny Prigozhin, Putin, Edward Moya, Rouble, International Affairs Masato Kanda, jawboning, Moya, Christine Lagarde, Sterling, Chuck Mikolajczak, Mark Heinrich Our Organizations: YORK, Russian, International Affairs, Bank of Japan, European Central Bank, ECB, Central Banking, Thomson Locations: New York, Russian, Japan, Sintra, Asia, China, Beijing
Dollar pulls back from 15-month high vs ruble as Russia assessed
  + stars: | 2023-06-26 | by ( ) www.cnbc.com   time to read: +3 min
The U.S. dollar rose against the ruble on Monday, although it was off the 15-month high hit earlier in the session, while the Japanese yen gained modestly against the greenback following comments from the country's top currency diplomat. The Russian ruble weakened 0.90% versus the greenback at 84.40 per dollar after hitting its weakest level since March 2022. The Japanese yen strengthened 0.11% versus the greenback at 143.52 per dollar. The Bank of Japan last intervened in the yen when it traded around 145 per dollar. In Asia, the dollar rose 0.40% versus the offshore Chinese yuan to $7.2442 after hitting a 7-month high as investors braced for potentially more support measures as China returned on Monday from a holiday.
Persons: Vladimir Putin, Yevgeny Prigozhin, Putin, Edward Moya, International Affairs Masato Kanda, jawboning, Moya, Christine Lagarde, Sterling Organizations: U.S, Russian, International Affairs, Bank of Japan, European Central Bank, ECB, Central Banking Locations: New York, Japan, Sintra, Asia, China, Beijing
Tokyo (CNN Business) Japan tried to shore up the value of its currency Thursday by buying yen and selling US dollars for the first time in 24 years. The yen had earlier plunged to its lowest level since 1998 after the Federal Reserve hiked interest rates aggressively while the Bank of Japan kept its rates in negative territory in a bid to boost its fragile economic recovery. The currency has lost about 20% this year against a surging US dollar"In the current foreign exchange market, we are seeing rapid and one-sided movements against the backdrop of speculative activities," Japan's vice finance minister for international affairs Masato Kanda told reporters on Thursday. "The government is concerned about these excessive fluctuations and has just taken decisive action," he added. Thursday's decision marks the first time since 1998 that the Japanese government intervened in the foreign exchange market by buying yen.
The Bank of Japan has voted to keep interest rates ultra-low to support the country's fragile economic recovery. Japan intervened in the currency market on Thursday to shore up the battered yen for the first time since 1998, in the wake of the central bank's decision to maintain ultra-low interest rates that have been driving down the currency. The dollar extended its fall against the yen and was last down over 2% at 141.15 yen after confirmation of the intervention. We won't be raising interest rates for some time," BOJ Governor Haruhiko Kuroda told a briefing after the policy decision. In a widely expected move, the BOJ maintained ultra-low interest rates at a two-day meeting that ended on Thursday and left unchanged a pledge to keep rates at "present or lower levels."
Japanese yen and U.S. dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken June 16, 2022. The BOJ would rather wait for the outcome of companies’ annual wage negotiations next year before leaping to policy conclusions. That further widens the gap between American and Japanese benchmark bond yields – already well over 3 percentage points – which further hurts the yen. Register now for FREE unlimited access to Reuters.com RegisterThat’s why Tokyo has decided to deploy some of its $1.3 trillion in forex reserves to stem the slide. Bond investors have already expressed scepticism towards the BOJ’s commitment to keeping the 10-year sovereign bond yield below 0.25%.
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