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☆ Many factors to consider if FX moves are 'excessive' -Japan finmin
▼ + stars: | 2023-10-06 | by ( ) www.reuters.com time to read: +1 min

Japanese Finance Minister Shunichi Suzuki speaks during the presidency press conference at the G7 meeting of finance ministers and central bank governors, at Toki Messe in Niigata, Japan, Saturday, May 13, 2023. Shuji Kajiyama/Pool via REUTERS/File Photo Acquire Licensing RightsTOKYO, Oct 6 (Reuters) - Japanese Finance Minister Shunichi Suzuki said on Friday there were many factors to consider in determining whether moves in the foreign exchange market were "excessive", adding that there were no changes in how the government would deal with them. Investors often think excessive volatility can be measured over a period of one day or so. "There's no change in the government stance," Suzuki said, when asked about intervention and what defines an excessive move. The minister added that authorities should make a comprehensive judgment on what constitute excessive moves, taking various factors into account.

Persons: Shunichi Suzuki, Shuji, Masato Kanda, Suzuki, Tetsushi Kajimoto, Satoshi Sugiyama, Jacqueline Wong, Jamie Freed Organizations: Toki, Rights, Japanese Finance, Thomson Locations: Niigata, Japan

☆ Japan's re-defined intervention trigger may slow, but not derail, yen bears
▼ + stars: | 2023-10-06 | by ( Leika Kihara | ) www.reuters.com time to read: +5 min

[1/2] A man looks at an electric monitor displaying the Japanese yen exchange rate against the U.S. dollar and Nikkei share average outside a brokerage in Tokyo, Japan October 4, 2023. While money flow data suggest there was no intervention, the price action was enough to keep yen bears at bay. Rather, the remarks by Kanda were likely a fresh warning shot to markets that authorities could step in any time - even if yen moves were moderate, they say. Intervention isn't the best tool to arrest steady yen declines anyway, said former currency diplomat Hiroshi Watanabe. "There's no point intervening when yen moves are gradual," Watanabe told Reuters.

Persons: Issei Kato, Masato Kanda, that's, Kanda, Tokyo's, Atsushi Takeuchi, They're, Daisaku Ueno, Mitsubishi UFJ, Mitsubishi UFJ Morgan Stanley, Hiroshi Watanabe, Watanabe, Leika Kihara, Tetsushi, Shri Navaratnam Organizations: U.S ., Nikkei, REUTERS, Tokyo, Authorities, Bank of, U.S . Federal Reserve, Treasury, Mitsubishi, Mitsubishi UFJ Morgan, Mitsubishi UFJ Morgan Stanley Securities, Reuters, Thomson Locations: Tokyo, Japan, TOKYO, United States

☆ Yen cowers near 150 as intervention chatter runs rife
▼ + stars: | 2023-10-04 | by ( Rae Wee | ) www.reuters.com time to read: +4 min

[1/3] Japanese yen and U.S. dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken June 16, 2022. Japanese authorities last year intervened to prop up the yen for the first time since 1998. Other currencies similarly fell against the yen in the previous session, with the euro losing more than 1.5% to a low of 154.39 yen. Sterling edged 0.03% lower to $1.20745, languishing near the previous session's close to seven-month low of $1.20535. Meanwhile, Cleveland Fed President Loretta Mester said she is open to raising interest rates again.

Persons: Florence Lo, James Malcolm, Masato Kanda, Janet Yellen, Rodrigo Catril, Raphael Bostic, Loretta Mester, Rae Wee, Sam Holmes Organizations: U.S, REUTERS, Rights, UBS, Tokyo, Treasury, Sterling, National Australia Bank, Atlanta Fed, Cleveland Fed, New Zealand, Reserve Bank of New Zealand, Thomson Locations: Rights SINGAPORE, Asia, Washington, Japan

☆ Yen cowers near 150 as Japanese intervention chatter runs rife
▼ + stars: | 2023-10-04 | by ( Rae Wee | ) www.reuters.com time to read: +4 min

Japanese yen and U.S. dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken June 16, 2022. Japanese authorities last year intervened to prop up the yen for the first time since 1998. Other currencies similarly fell against the yen in the previous session, with the euro losing more than 1.5% to a low of 154.39 yen. The Aussie stood at 94.03 yen , after having fallen to an over one-month low of 93.16 yen on Tuesday. Sterling edged 0.02% lower to $1.2076, languishing near the previous session's close to seven-month low of $1.20535.

Persons: Florence Lo, James Malcolm, Shunichi Suzuki, Masato Kanda, Janet Yellen, Rodrigo Catril, Raphael Bostic, Loretta Mester, Rae Wee, Sam Holmes, Stephen Coates Organizations: U.S, REUTERS, Rights, UBS, Japanese Finance, Tokyo, Treasury, New Zealand, Sterling, National Australia Bank, Atlanta Fed, Cleveland Fed, Thomson Locations: Rights SINGAPORE, Asia, Washington, Japan

☆ Japan warns it will take 'appropriate' steps on excessive yen falls
▼ + stars: | 2023-10-04 | by ( ) www.cnbc.com time to read: +3 min

Japan will take appropriate steps against excessive moves in the yen "without ruling out any options", Finance Minister Shunichi Suzuki said on Wednesday, keeping markets on alert over the chance of yen-buying intervention. Suzuki told reporters he would not comment on whether Tokyo intervened in the exchange rate market overnight to prop up the yen. Japan's top currency diplomat Masato Kanda told reporters early on Wednesday that authorities were looking at various factors, including implied volatility, in determining whether yen moves were excessive. He declined to comment on whether the overnight yen moves were excessive. He added that Japan was acting in accordance with an agreement with its G7 and G20 partners, which includes a commitment to the stance that excessive exchange rate moves are undesirable.

Persons: Shunichi Suzuki, Suzuki, Masato Kanda, that's, Kanda, Fumio Kishida, Yoshimasa Maruyama Organizations: Tokyo Stock Exchange, Tokyo, Bank of Japan, Nikko Securities Locations: Tokyo, Japan, Asia

☆ Fragile yen is flat as intervention talk in focus
▼ + stars: | 2023-10-04 | by ( ) www.cnbc.com time to read: +4 min

The index, however, remained within striking distance of a nearly 11-month high of 107.34 reached in the previous session. The Japanese currency was last flat at 149.06 per dollar, after unexpectedly surging nearly 2% at one point on Tuesday to 147.30, its strongest level in three weeks. The Bank of Japan's money market data showed on Wednesday that Japan likely did not intervene in the currency market a day earlier. Sterling climbed 0.3% to $1.2112, rebounding after falling to a nearly seven-month low of $1.20535 in the previous session. The decision sent the kiwi sliding more than 0.2% to a nearly one-month low of US$0.5871.

Persons: Helen, Masato Kanda, James Malcolm, Sterling Organizations: U.S ., ADP, U.S, Monex USA, Tokyo, Analysts, UBS, Federal Reserve, greenback, New Zealand Locations: U.S, Washington, Japan

☆ Japan warns against post-Fed yen slide
▼ + stars: | 2023-09-21 | by ( ) www.cnbc.com time to read: +1 min

An undated photographic illustration of Japanese yen and the U.S. dollar bank notes. Japan won't rule out any options in addressing excess volatility in currency markets, the government's top spokesperson said on Thursday, issuing a fresh warning against the yen's decline towards the psychologically important 150-mark per dollar. "It's important for currencies to move stably reflecting fundamentals," Matsuno told a regular briefing, when asked about the yen's recent declines. "The government will monitor currency market developments with a high sense of urgency, and respond appropriately without ruling out any options," he said. Matsuno's remarks echo those by top currency diplomat Masato Kanda, who told reporters on Wednesday the authorities "won't rule out any options if excessive moves persist."

Persons: Hirokazu Matsuno, Matsuno, Masato Kanda, Kanda, Janet Yellen Organizations: U.S, Bank of Japan, U.S . Federal Reserve, Treasury Locations: Japan, Tokyo, Washington

☆ Dollar higher as Fed skips rate hike but stiffens hawkish stance
▼ + stars: | 2023-09-20 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +4 min

As they did in June, Fed policymakers at the median still see the central bank's benchmark overnight interest rate peaking this year in the 5.50%-5.75% range, just a quarter of a percentage point above the current range. But from there, the Fed's updated quarterly projections show rates falling only half a percentage point in 2024 compared with the full percentage point of cuts anticipated at the meeting in June. Interest rate sensitive two-year Treasury yields hit 17-year highs on Wednesday after the Fed decision. "It looks as though the Fed is trying to send as hawkish a signal as it possibly can," said Gennadiny Goldberg, interest rate strategist at TD Securities. The yen was down 0.13% versus the greenback at 148.05 per dollar after the Fed decision.

Persons: Dado Ruvic, Karl Schamotta, Schamotta, Jerome Powell, Gennadiny Goldberg, Dominic Bunning, BoE, Masato Kanda, Janet Yellen, bitcoin, Saqib Iqbal Ahmed, Herbert, Joice Alves, Brigid Riley, Marguerita Choy, Jonathan Oatis Organizations: REUTERS, U.S, Federal Reserve, TD Securities, Bank of England, Reuters, FX Research, HSBC, Washington, Treasury, Thomson Locations: Toronto, Japan, U.S, New York, London, Tokyo

Yet in Europe, sterling came under pressure after data showed Britain's high inflation rate fell unexpectedly in August, prompting speculation that the Bank of England could pause its historic run of interest rate hikes as soon as Thursday. Two-year Treasury yields were down 3.5 basis points in London trade at 5.07%, having risen sharply on Tuesday, when five- and 10-year Treasury yields reached 16-year highs. World stock markets were edging higher ahead of the Fed rate decision. UK gilt yields fell sharply as investors slashed bets for a rate hike on Thursday, with two-year yields last down over 14 bps at 4.85% . "Combined with their recent dovish commentary, we now expect the MPC to keep Bank Rate unchanged tomorrow and lower our forecast for the terminal policy rate to 5.25%," Stehn and co. added.

Persons: DAX, Kai Pfaffenbach, Jerome Powell, Lee Hardman, Sterling underperformed, Goldman Sachs, Sven Jari Stehn, Stehn, Masato Kanda, Eugene Low, Dhara Ranasinghe, Samuel Indyk, Tom Westbrook, Toby Chopra, Chizu Organizations: REUTERS, Sterling, U.S, Treasury, Federal Reserve, Bank of England, Brent, Federal, Fed, Japan's Nikkei, MPC, Monetary, Bank of, New Zealand, Thomson Locations: Frankfurt, Germany, Europe, Saudi Arabia, Russia, U.S, London, Sweden, Switzerland, Norway, Britain, Japan, Asia, Pacific, Hong Kong, China, Singapore

☆ Dollar edges down before Fed decision, sterling falls on cooling UK inflation
▼ + stars: | 2023-09-20 | by ( Joice Alves | ) www.reuters.com time to read: +4 min

The U.S. dollar index , which measures the currency against a basket of rivals, was 0.1% lower at 105.00. The pound was volatile, last down 0.23% to $1.2364 after touching its lowest in almost four months following data showing UK inflation slowed more than expected in August. "This can drag GBP down, especially against the USD where pricing for rate cuts may already be overstretched". The yen flattened at 147.87 after touching a fresh 10-month weak-point against the dollar of 148.17 ahead of the Fed decision. The offshore yuan was unchanged at 7.3055 after China met market expectations by keeping its benchmark lending rates unchanged on Wednesday.

Persons: Dado Ruvic, BoE, Dominic Bunning, Bunning, Goldman Sachs, Powell, Elsa Lignos, Masato Kanda, Janet Yellen, Joice Alves, Brigid Riley, Gerry Doyle, Emelia Organizations: REUTERS, Federal Reserve, Bank of England, U.S, Reuters, FX Research, HSBC, FX, RBC Europe, Washington, Treasury, Bank of Japan's, Thomson Locations: Japan, U.S, China, London, Tokyo

☆ Stocks stalled as oil surge sets stage for longer US rate peak
▼ + stars: | 2023-09-20 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

But at $93.52 a barrel, prices remain up 30% in three months as Saudi Arabia and Russia reduce output. Benchmark 10-year Treasury yields had hit their highest since 2007 at 4.371% overnight and were last at 4.36%. The yen is down 11% on the dollar this year as expectations firm for U.S. rates to stay high and Japanese rates to stay low. The yen hit a 10-month trough of 147.95 to the dollar late last week and it traded at 147.85 on Wednesday. Rising yields have kept a lid on gold prices, with spot gold last trading at $1,929 an ounce.

Persons: Brent, Stocks, Jerome, Sam Rines, Powell presser, Masato Kanda, Eugene Low, Miral Fahmy, Jamie Freed Organizations: Federal Reserve, Brent, FTSE, Japan's Nikkei, Bank of, New Zealand, Thomson Locations: SINGAPORE, Asia, Saudi Arabia, Russia, Pacific, Japan, Hong Kong, China, Texas, Sweden, Switzerland, Norway, Britain, U.S, Singapore, Australia, Argentina

☆ Dollar holds fast, yen in shaky territory ahead of FOMC
▼ + stars: | 2023-09-20 | by ( Brigid Riley | ) www.reuters.com time to read: +3 min

The U.S. dollar index , which measures the greenback against a basket of rivals, stayed mostly flat at 105.17 as traders awaited the Fed's rate decision. Attention stayed fixed on the yen as U.S. and Japanese authorities heaped on fresh comments about the possibility of intervention. The yen last sat around 147.83 versus the greenback, off Tuesday's low of 147.92 though hovering near the 10-month trough against the dollar ahead of the FOMC announcement. Elsewhere in Asia, the offshore yuan was largely unchanged after China met market expectations by keeping its benchmark lending rates unchanged on Wednesday, but later ticked down 0.1% to 7.3103 per dollar. The Australian dollar , a proxy for China growth, fell nearly 0.1% in the Asian afternoon, while the New Zealand dollar was flat, down from Tuesday's two-week high against the dollar.

Persons: Dado Ruvic, Carol Kong, Masato Kanda, Janet Yellen, Brigid Riley, Gerry Doyle Organizations: REUTERS, Rights, Federal Reserve, U.S, Commonwealth Bank of Australia, Washington, Treasury, Bank of Japan's, New Zealand, Bank of England, bitcoin BTC, Thomson Locations: Japan, U.S, Asia, China, bitcoin

☆ Dollar firm but softens against yen ahead of FOMC
▼ + stars: | 2023-09-20 | by ( Brigid Riley | ) www.reuters.com time to read: +2 min

TOKYO, Sept 20 (Reuters) - The dollar remained firm on Wednesday but softened slightly against the yen ahead of a much-anticipated rate decision by the Federal Reserve later in the day. The U.S. dollar index , which measures the greenback against a basket of rivals, stayed mostly flat at 105.13 as traders awaited the Fed's rate decision. Dollar/yen could see some upside pressure after a hawkish FOMC meeting, she added. The yen last sat nearly 0.1% higher at 147.77 versus the greenback, off Tuesday's low of 147.92 though hovering near the 10-month trough against the dollar ahead of the FOMC announcement. The New Zealand dollar ticked up over 0.2% against the dollar near $0.5950.

Persons: Carol Kong, Masato Kanda, Brigid Riley, Gerry Doyle Organizations: Federal Reserve, U.S, Commonwealth Bank of Australia, Bank of Japan's, Reserve Bank, Australia's, New Zealand, Bank of England, bitcoin BTC, Thomson Locations: TOKYO, China, bitcoin

☆ Japan's top currency diplomat says Tokyo in close contact with US on FX moves
▼ + stars: | 2023-09-20 | by ( Tetsushi Kajimoto | ) www.reuters.com time to read: +2 min

[1/2] Japanese yen and U.S. dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken June 16, 2022. Yellen said whether Washington would show understanding over another yen-buying intervention by Japan "depends on the details" of the situation. Last September, Japan conducted its first dollar-selling intervention to prop up the yen in 24 years as the dollar reached around 145 yen to the dollar. Authorities intervened twice in October as the dollar reached close to 152 yen. The Group of Seven (G7) nations require that member states inform their counterparts if they intervene in the currency market.

Persons: Florence Lo, Masato Kanda, Janet Yellen, Yellen, Kanda, Fumio, Tetsushi Kajimoto, Jacqueline Wong, Sam Holmes Organizations: U.S, REUTERS, Rights, Treasury, Authorities, Thomson Locations: Washington, Japan

☆ Stocks struggle as oil surge sets stage for hawkish Fed
▼ + stars: | 2023-09-20 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

Higher energy costs led to a bigger-than-expected spike in Canadian inflation, overnight data showed, lifting the loonie and triggering selling in the Treasury market. Benchmark 10-year Treasury yields hit their highest since 2007 at 4.371% overnight and were last at 4.36%. The Fed meeting leads a week jammed with central bank meetings and data over the next few days. British inflation figures are due on Wednesday, followed by central bank meetings in Sweden, Switzerland, Norway, Britain and Japan on Thursday. Rising yields have kept a lid on gold prices, with spot gold last trading at $1,929 an ounce.

Persons: Brent, presser, Jerome Powell's, Sam Rines, Powell presser, Masato Kanda, Kristina Clifton, Miral Organizations: Treasury, Federal Reserve, Brent, Nikkei, U.S, STERLING, OF CPI, Bank of, New Zealand, Commonwealth Bank of Australia, Bank of England, Thomson Locations: presser China, SINGAPORE, Saudi Arabia, Russia, Asia, Pacific, Japan, Texas, Sweden, Switzerland, Norway, Britain, U.S, China, Australia, Argentina

☆ Japan's top currency diplomat says Tokyo in close contact with U.S. on FX moves
▼ + stars: | 2023-09-20 | by ( ) www.cnbc.com time to read: +1 min

A man walks past an electronic board showing the closing numbers on the Tokyo Stock Exchange and the Japanese yen rate versus the US dollar (R), along a street in Tokyo on May 1, 2023. Japanese authorities are always in close communication with U.S. counterparts on currencies and share a mutual understanding that excessive volatility is undesirable, Tokyo's top foreign exchange official said on Wednesday. Yellen said whether Washington would show understanding over another yen-buying intervention by Japan "depends on the details" of the situation. "We won't rule out any options if excessive moves persist," Kanda said. To help households cope with higher living costs, Prime Minister Fumio Kishida's government plans a supplementary budget for this fiscal year, which could aggravate the industrial world's heaviest debt burden.

Persons: Masato Kanda, Janet Yellen, Yellen, Kanda, Fumio Organizations: Tokyo Stock Exchange, U.S, Treasury Locations: Tokyo, Washington, Japan

☆ How Yotam Ottolenghi Was Seduced by Soba Noodles
▼ + stars: | 2023-09-13 | by ( Yotam Ottolenghi | More About Yotam Ottolenghi | ) www.nytimes.com time to read: +2 min

There are several ways the Japanese serve and cook soba, a nutty-tasting, brilliantly slurpable noodle made of buckwheat flour. I was seduced, so I went back the next day, again joining the long lunch line and, again, ordering my cold soba, with a serving of tempura shrimp. Buckwheat flour on its own is expensive, and the noodles it produces tend to be brittle. Commercial dried soba noodles manage to retain some of that texture and much of the flavor, as long as they are not overcooked. Once cooked and refreshed, your soba noodles can go into a cold broth, as they do in this recipe.

Persons: soba Locations: Kanda

☆ Dollar has 8th straight week of gains; U.S. stocks edge up
▼ + stars: | 2023-09-08 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

[1/3] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 24, 2023. The dollar index's weekly winning streak was its longest since 2014, bolstered by recent data suggesting the U.S. economy is still resilient. Investors are waiting for the U.S. Consumer Price Index reading for August, due Wednesday, especially with oil prices rising. Dollar gains have also prompted a step up in rhetoric from Japanese policymakers growing uncomfortable with the yen's slide. In energy, oil prices rose to a nine-month high as U.S. diesel futures rose and as investors worried about tight oil supplies.

Persons: Brendan McDermid, Quincy Krosby, Wall, Masato Kanda, Hirokazu Matsuno, Huw Jones, Heekyong Yang, Shri Navaratnam, Tomasz Janowski, David Evans, Richard Chang Organizations: New York Stock Exchange, REUTERS, Apple, U.S, Strong U.S, Federal Reserve, Investors, U.S . Consumer, Financial, Dow Jones, Nasdaq, Treasury, Thomson Locations: New York City, U.S, Strong, Charlotte , North Carolina, China, Japan, Brent, London, Seoul

☆ Stocks subdued after bruising week, dollar basks and yuan wilts
▼ + stars: | 2023-09-08 | by ( Huw Jones | ) www.reuters.com time to read: +4 min

U.S. stock index futures , , were little changed. The dollar was set to clock up its best winning streak since 2014, bolstered by a resilient run of U.S. economic data. In contrast, the yuan fell to its weakest level since 2007 on worries about China's slowing economy. "Everything is geared towards the next couple of weeks, with European Central Bank, Federal Reserve and Bank of England meeting. Stocks sought to stabilise after a week of easing, with the MSCI All Country stock index (.MIWD00000PUS) slightly weaker at 676.83 points, and down about 1.5% for the week so far, though still up nearly 12% for the year.

Persons: Toby Melville, Mike Hewson, Stocks, Patrick Spencer, Spencer, YUAN, Masato Kanda, Hirokazu Matsuno, Brent, Heekyong Yang, Shri Navaratnam, Tomasz Janowski, David Evans Organizations: London Stock Exchange Group, City of, REUTERS, Stocks, Apple, Investors, European Central Bank, Federal Reserve, Bank of England, CMC, U.S, Consumer, Baird, ANZ Bank, Treasury, Thomson Locations: City, City of London, Britain, China, United States, Europe, U.S, Seoul

☆ Stocks stumble as 'dollar juggernaut' on a roll
▼ + stars: | 2023-09-08 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

Passersby are reflected on an electric stock quotation board outside a brokerage in Tokyo, Japan April 18, 2023. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) fell 0.2% in early trade and is down 1.4% for the week. "China’s partial ban on Apple products put trade wars and U.S.-China decoupling back on the agenda," said Capital.com analyst Kyle Rodda. U.S. suppliers' shares had fallen overnight and helped drag the S&P 500 (.SPX) 0.3% lower and the Nasdaq (.IXIC) down by 0.9%. The Australian dollar is down more than 1% on the week and traded at $0.6384 on Friday.

Persons: Issei Kato, TSMC, Kyle Rodda, Masato Kanda, Hirokazy Matsuno, Brent, Heekyong Yang, Shri Navaratnam Organizations: REUTERS, Rights, Japan's Nikkei, South Korea's SK Hynix, Huawei Technologies, Tokyo, Apple, Nasdaq, ANZ Bank, European Central Bank, Treasury, Brent, Thomson Locations: Tokyo, Japan, Rights SINGAPORE, U.S, Asia, Pacific, Hong Kong, China, South Korea's, Europe, Seoul

☆ Dollar firm on growth worries, fragile yen draws warning
▼ + stars: | 2023-09-06 | by ( ) www.cnbc.com time to read: +2 min

The yen was at 147.66 per dollar in early Asian hours, just shy of 147.8 per dollar, the lowest since Nov. 4 it touched overnight. The Asian currency has hovered around the key 145 per dollar level for the past few weeks, leading traders to keep a wary eye on signs of an intervention. "We won't rule out any options if speculative moves persist," Japan's top currency diplomat Masato Kanda told reporters on Wednesday. Against a basket of currencies, the dollar rose 0.067% to 104.80, not far off the six-month high of 104.90 it touched overnight. The euro was unchanged at $1.0721 in Asian hours, having breached a three-month low of $1.0705 overnight.

Persons: Masato Kanda, Christopher Wong, Sterling, Christopher Waller Organizations: Ministry of Finance, Federal, U.S, Reserve Bank of Australia Locations: China, Kanda, Singapore, Europe, Britain

☆ Dollar rises to six-month high after US data; weak yen prompts warning
▼ + stars: | 2023-09-06 | by ( Gertrude Chavez-Dreyfuss | ) www.reuters.com time to read: +4 min

The greenback recovered against most currencies after the data, with the euro and sterling hitting three-month lows and the yen touching session troughs. The euro and sterling fell to three-month lows after the data and were last flat at $1.0726 and down 0.5% at $1.2505 , respectively. Data showed the Institute for Supply Management (ISM)'s non-manufacturing PMI rose to 54.5 last month, the highest since February and up from 52.7 in July. Against the yen, the dollar trimmed losses, last down little changed at 147.69 yen. The dollar showed little reaction to the report.

Persons: Dado Ruvic, Helen, Susan Collins, Christopher Waller, Waller, Masato Kanda, Gertrude Chavez, Dreyfuss, Samuel Indyk, Ankur Banerjee, Savio D'Souza, Alexandra Hudson, Josie Kao Organizations: REUTERS, Institute for Supply Management, Reuters, Monex USA, Federal, Fed, Boston, CNBC, Ministry of Finance, Thomson Locations: Washington, U.S, Kanda, London, Singapore

☆ Japan's Suzuki: Not targeting absolute levels on FX intervention
▼ + stars: | 2023-08-15 | by ( Tetsushi Kajimoto | ) www.reuters.com time to read: +3 min

"It's important for the currency market to move stably reflecting fundamentals. "We're watching market moves with a strong sense of urgency. We'll respond appropriately to excessive moves." Japan will assess whether moves are speculative, volatile or based on fundamentals, rather than focusing on absolute levels, Suzuki added. Japan's top forex diplomat Masato Kanda said later on Tuesday that he would take appropriate steps against excessive currency moves, according to the Jiji news agency.

Persons: Shunichi Suzuki, Shuji, Suzuki, Japan's, Masato Kanda, Jiji, Tetsushi Kajimoto, Kantaro Komiya, Jacqueline Wong, Muralikumar Anantharaman, Sharon Singleton Organizations: Toki, Japanese Finance, U.S, Bank of, Thomson Locations: Niigata, Japan, TOKYO, U.S . Federal, Bank of Japan

☆ Shabab Al-Ahli set up Al-Nassr clash in Asian Champions League playoffs
▼ + stars: | 2023-08-15 | by ( Michael Church | ) www.reuters.com time to read: +2 min

HONG KONG, Aug 15 (Reuters) - Shabab Al Ahli of the United Arab Emirates will face Saudi Pro League side Al-Nassr for a berth in the group phase of the Asian Champions League next week after the club from Dubai defeated Al-Wehdat 3-0 in a playoff on Tuesday. Cristiano Ronaldo and Al-Nassr his team mates will host the 2015 Asian Champions League runners-up in Riyadh next Tuesday after second half goals from Azizjon Ganiev, Renan and Munas Dabbur earned Shabab Al-Ahli victory over the Jordanians. Khurshid Giyosov scored the game's only goal two minutes into the second half to set up a clash with Qatari side Al-Arabi. In the eastern side of the draw, Vietnam's Haiphong equalised in the 88th to take their game against Hong Kong Rangers into extra time and they went on to win 4-1 win. The draw for the group phase of the Asian Champions League will be held in Kuala Lumpur on Aug. 24 with matches kicking off on Sept. 18.

Persons: Cristiano Ronaldo, Nassr, Azizjon Ganiev, Renan, Munas Dabbur, Luanzinho, Uzbekistan's AGMK, Martin Boakye's, Khurshid Giyosov, Yumemi Kanda, Nguyen Tuan Anh, Yuri Mamute's, Mamute, Martin Lo, Lee, Michael Church, Ken Ferris Organizations: United, Saudi Pro League, Al, Asian Champions League, Dubai, League, Shabab Al, India's, Qatari, Vietnam's, Hong Kong Rangers, Hong Kong Premier League, Incheon United, Urawa Red Diamonds, Bali, Thomson Locations: HONG KONG, Shabab Al Ahli, United Arab Emirates, Riyadh, Shabab, Sharjah, India's Bashundhara, Iran, Seeb, Oman, Arabi, Haiphong, South Korea, Indonesia, Hong Kong, Kuala Lumpur

☆ Insight: BOJ makes bold shift as yen risks grow too big to ignore
▼ + stars: | 2023-08-03 | by ( Leika Kihara | ) www.reuters.com time to read: +9 min

The BOJ's decision shook markets on Friday and contrasted sharply with Ueda's more cautious comments in recent months about the dangers of retreating too quickly from accommodative Kuroda-era policies. "There's also a small but probable risk of inflation overshooting in Japan, which gave the BOJ reason to act." NEW PRIORITIESThe BOJ's policy decision last week signalled to investors that it would now allow the 10-year government bond yield to move closer to 1% before it intervenes. 'BIT BY BIT'The shift in thinking gained momentum at the BOJ's June policy meeting, but not enough to turn the tide. It was a test case, or a preliminary exercise, toward future policy normalisation," said former BOJ board member Takahide Kiuchi.

Persons: Issei Kato, Kazuo Ueda, Haruhiko Kuroda, Fumio, accommodative Kuroda, Ueda, YCC, There's, Hirokazu Matsuno, Seiji Adachi, Asahi Noguchi, Ryozo Himino, Shinichi Uchida, Uchida, Masato Kanda, Kanda, Takahide, Leika Kihara, Takaya Yamaguchi, Takahiko Wada, Kentaro Sugiyama, Yoshifumi, Sam Holmes Organizations: Bank of Japan, REUTERS, TOKYO, Bank, Ueda, Reuters, BIT, Asahi, Nikkei, Thomson Locations: Tokyo, Japan

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