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☆ Dollar drifts as Powell comments bring September rate cut in focus
▼ + stars: | 2024-07-16 | by ( ) www.cnbc.com time to read: +3 min

The dollar fell slightly on Monday after comments from Federal Reserve Chair Jerome Powell, while cryptocurrencies rose on bets that an assassination attempt on former President Donald Trump lifted his reelection chances. The dollar hung around five-week lows on Tuesday as comments from Federal Reserve Chair Jerome Powell bolstered the case for a rate cut in September, while cryptocurrencies gained on rising odds of former President Donald Trump getting reelected. The comments, likely Powell's last until his press conference following the Fed's July 30-31 meeting, shifted rate cut expectations. Markets are now anticipating 68 basis points of easing this year, with a rate cut in September fully priced in, CME FedWatch tool showed. "Markets may need to wait longer for the confirmation of their September rate cut hopes, and growth and labor data will be on the radar such as retail sales today."

Persons: Jerome Powell, Donald Trump, cryptocurrencies, Powell, We've, Charu Chanana, Trump, Gary Gensler, Chris Weston Organizations: Federal, Economic, of Washington, Saxo, Traders, Bank of Japan, Republican, cryptocurrency, San, SEC, New Zealand Locations: Tokyo, San Francisco

☆ Volatile yen keeps markets on edge as intervention risks swirl
▼ + stars: | 2024-07-12 | by ( ) www.cnbc.com time to read: +4 min

A sheet of newly-designed Japanese 10,000 yen banknotes at the National Printing Bureau Tokyo plant in Tokyo, Japan, on Wednesday, June 28, 2023. The Japanese currency swung between gains and losses in early trading before trading slightly weaker. It spiked nearly 3% to as high as 157.40 immediately after the consumer inflation report on Thursday. "Currency interventions should certainty be rare in a floating rate market, but we'll need to respond appropriately to excessive volatility or disorderly moves," Kanda said. Tokyo intervened at the end of April and in early May, spending roughly 9.8 trillion yen ($61.55 billion) to support the currency.

Persons: Masato Kanda, Kanda, It's, Siong Sim, Charu Chanana, Matt Simpson, Menon, Donald Trump, Sterling Organizations: National Printing Bureau, Asahi, Nikkei, Bank of Singapore, U.S, CPI, Saxo, Federal Reserve, City, Traders, Presidential, Trump Locations: National Printing Bureau Tokyo, Tokyo, Japan, U.S

☆ Dollar calm as traders await clues on U.S. rate path
▼ + stars: | 2024-05-20 | by ( ) www.cnbc.com time to read: +4 min

In this photo illustration, a person seen holding a 100 US dollar bill in his hand. The dollar was broadly steady on Monday as investors awaited further clues to help chart the U.S. interest rate path in the wake of cautious comments from Federal Reserve officials, even as inflation shows signs of cooling. The Japanese yen was flat at 155.74 per dollar, with traders on alert for any signs of government intervention. That has prompted traders to trim the amount of easing expected this year to about 46 bps, with only a rate cut in November fully priced in. In other currencies, sterling touched a two-month high of $1.2711 ahead of the crucial UK inflation report due on Wednesday.

Persons: Brian Jacobsen, Powell, Jackson, Flash PMIs, Paul Mackel, BoE, Charu Chanana Organizations: Federal Reserve, Annex Wealth Management, ANZ, European Central Bank, Bank of England, HSBC, New Zealand, Reserve Bank of New, Saxo Locations: Tokyo, Germany, U.S, Reserve Bank of New Zealand

☆ Dollar steady ahead of jobs data; yen hits two-week high
▼ + stars: | 2024-04-05 | by ( ) www.cnbc.com time to read: +3 min

The yen, while still close to the 152 range, hit a two-week high against the greenback as safe-haven bids and fresh warnings from Japanese authorities buoyed the currency. The dollar has had a turbulent week, falling from a five-month high to a two-week low after an unexpected slowdown in U.S. services growth supported expectations of bringing interest rates down. The dollar index , which measures the greenback against a basket of major currencies, was last largely unchanged at 104.18. Japanese Finance Minister Shunichi Suzuki on Friday reiterated the government's resolve to take appropriate action against sharp yen falls. The yen strengthened 0.29% versus the greenback to a two-week high of 150.92.

Persons: payrolls, Neel Kashkari, Jerome Powell, Charu Chanana, Joe Biden, Matt Simpson, Shunichi Suzuki, Kazuo Ueda, bitcoin Organizations: U.S, The U.S, greenback, Minneapolis Federal, Saxo, Biden, Finance, Bank of Japan, Asahi Locations: The, Minneapolis, Gaza, Iran

☆ Japan’s Nikkei hits 34-year high
▼ + stars: | 2024-02-13 | by ( ) edition.cnn.com time to read: +2 min

Tokyo Reuters —Japan’s Nikkei share average closed at a fresh 34-year high on Tuesday as trading resumed after a long holiday weekend, with tech-related shares and strong corporate earnings supporting the benchmark stock index. The Nikkei climbed 2.89% to 37,963.97 to its highest since January 1990, after briefly breaching 38,000 points. The broader Topix rose 2.12%. Among other top gainers, Tokio Marine Holdings Inc and MS&AD Insurance Group Holdings Inc gained 11% and 10.82%, respectively. As the Nikkei climbs toward its all-time high, the US consumer price index (CPI) report out later on Tuesday will be in focus.

Persons: SoftBank, “, ” JP Morgan, ”, Charu Chanana Organizations: Tokyo Reuters, Japan’s Nikkei, Nikkei, Tokyo, SoftBank, ARM Holding, Tokio Marine Holdings Inc, Insurance, Holdings, CPI, Saxo Markets, Otsuka Holdings Locations: Tokyo

☆ Dollar rises, recouping losses from strengthened Fed rate cut bets
▼ + stars: | 2023-12-04 | by ( ) www.cnbc.com time to read: +2 min

The dollar index, which tracks the currency against six major peers, rose by 0.4% to 103.71, while the euro was last down nearly 0.5% at $1.0828. "I think it's the fact that U.S. policy rate expectations have gone too far and will unwind more in December than rate expectations elsewhere," said Colin Asher, senior economist at lender Mizuho in London. "November was... a very poor month for the U.S. dollar, in part driven by expectations of easier Fed policy," Asher said. The dollar was trading higher against the yen at 147.34, after falling to 146.24 in the Asian session, its lowest since mid-September. "A steady USD decline needs more than just an expectation of Fed rate cuts, it also needs strong growth outside of the U.S. which doesn't seem to be the case currently," said Charu Chanana, market strategist at Saxo Markets.

Persons: Colin Asher, Asher, Sterling, Jerome Powell, Charu, denting, Christine Lagarde Organizations: Federal Reserve, Mizuho, U.S ., Saxo Markets, European Central Bank Locations: London, Germany

☆ Instant View: BOJ modifies bond yield control, re-defines long-term rate cap
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +10 min

But it's also likely the BOJ have their finger on the intervention button to cap any runaway rally on USD/JPY." Nevertheless, this is working in a way to increase the volatility of the global rates market. This means it will still have a certain distance until the BOJ exit from the negative rate policy." "A yield cap isn't a yield cap if you change it every time the market gets close." The Bank of Japan could lift the negative policy rate to zero over the coming year.

Persons: Kim Kyung, KYLE RODDA, MATT SIMPSON, JPY, it's, NOMURA, They've, TONY SYCAMORE, normalisation, TAKAYUKI MIYAJIMA, ROB CARNELL, they're, JEFF NG, TOM NASH, OMORI, SHOTARO KUGO, me, IZURU KATO, MARCEL THIELIANT, today's, FREDERIC NEUMANN, CHRISTOPHER WONG, BOJ's, Sherry Jacob, Phillips Organizations: National Printing Bureau, Bank of Japan, REUTERS, Bank of, Nikkei, SAXO, SONY, ING, UBS, CHIEF, DAIWA, OF, HSBC, Global, Thomson Locations: Tokyo, Japan, Bank of Japan, MELBOURNE, BRISBANE, SINGAPORE, TOKYO, U.S, SYDNEY, ASIA, PACIFIC, CHIEF JAPAN, stagflation, OF ASIA, YCC, HONG KONG

☆ Dollar drifts as investors eye Powell speech, yen wobbles near intervention zone
▼ + stars: | 2023-10-17 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

The yen was pinned close to the key 150 per dollar level, keeping traders on edge for any signs of intervention by the Japanese authorities. The yen last fetched 149.62 per dollar, having slipped to 150.17 on Oct. 3, the weakest in a year, before getting some relief in a brief rally. The dollar index , which measures the U.S. currency against six rivals, eased 0.038% to 106.20, after dropping 0.36% on Monday. Federal Reserve Bank of Philadelphia President Patrick Harker said on Monday the central bank should not create new pressures in the economy by increasing the cost of borrowing. Christopher Wong, currency strategist at OCBC, said the dollar is likely caught in a range for now.

Persons: Dado Ruvic, Powell, Masato Kanda, Israel's shekel, Charu, Jerome Powell, Patrick Harker, Harker, Christopher Wong, Wong, Ankur Banerjee, Shri Navaratnam Organizations: REUTERS, Rights, U.S ., Swiss, Palestinian, Hamas, Saxo, Federal Reserve Bank of Philadelphia, Reserve Bank of Australia's, News Zealand, Thomson Locations: Rights SINGAPORE, East, Singapore, Australia's

☆ Dollar shines as US economy outperforms, yen at 10-month low
▼ + stars: | 2023-09-07 | 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. The greenback scaled a fresh top of 147.875 yen in early Asia trade, its highest since last November. That did little to help the Australian dollar , which was still down 0.15% at $0.6373, while the New Zealand dollar last bought $0.58735, with both languishing near their recent 10-month lows. The offshore yuan fell marginally to 7.3255 per dollar, while its onshore counterpart was pinned near the previous session's 10-month low. "As we have seen in the past, real intervention barely reverses the course of the yen sustainably."

Persons: Florence Lo, Sterling, Joseph Capurso, BoE, Andrew Bailey, Governor Bailey, Capurso, Saxo, Charu Chanana, Rae Wee, Jacqueline Wong Organizations: U.S, REUTERS, Rights, Commonwealth Bank of Australia, Federal Reserve, Bank of England, European Central Bank, ECB, New Zealand, Thomson Locations: Rights SINGAPORE, China's, Beijing, Asia, U.S, ASIA, Japan

☆ Dollar shines as U.S. economy outperforms, yen plumbs 10-month low
▼ + stars: | 2023-09-07 | by ( ) www.cnbc.com time to read: +4 min

The greenback scaled a fresh top of 147.865 yen in early Asia trade, its highest since last November. The Japanese currency last bought 147.76 per dollar, having weakened past the closely-watched 145 threshold for nearly a month now. "Yen's verbal intervention begs the question whether a real intervention is likely," said Saxo market strategist Charu Chanana. "As we have seen in the past, real intervention barely reverses the course of the yen sustainably." The Australian dollar slid 0.05% to $0.63795, while the New Zealand dollar fell 0.01% to $0.5869, with both languishing near their recent 10-month lows.

Persons: Sterling, Joseph Capurso, BoE, Andrew Bailey, Governor Bailey, Capurso, Saxo, Charu Chanana Organizations: greenback, Commonwealth Bank of Australia, Federal Reserve, Bank of England, European Central Bank, ECB, Australian, New Zealand Locations: Asia, U.S, Japan

☆ Dollar shines as US economy outperforms, yen plumbs 10-month low
▼ + stars: | 2023-09-07 | 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. The Japanese currency last bought 147.76 per dollar, having weakened past the closely-watched 145 threshold for nearly a month now. "Yen's verbal intervention begs the question whether a real intervention is likely," said Saxo market strategist Charu Chanana. "As we have seen in the past, real intervention barely reverses the course of the yen sustainably." The Australian dollar slid 0.05% to $0.63795, while the New Zealand dollar fell 0.01% to $0.5869, with both languishing near their recent 10-month lows.

Persons: Florence Lo, Sterling, Joseph Capurso, BoE, Andrew Bailey, Governor Bailey, Capurso, Saxo, Charu Chanana, Rae Wee, Jacqueline Wong Organizations: U.S, REUTERS, Rights, Commonwealth Bank of Australia, Federal Reserve, Bank of England, European Central Bank, ECB, Australian, New Zealand, Thomson Locations: Rights SINGAPORE, Asia, U.S, ASIA, Japan

☆ Euro steadies as markets raise bets of ECB hike after inflation data
▼ + stars: | 2023-08-30 | by ( Joice Alves | ) www.reuters.com time to read: +4 min

[1/2] Euro and U.S. dollar banknotes are seen in this illustration taken March 10, 2023. Money markets raised their bets on a September rate hike from the ECB, pricing in a 60% chance of a 25 basis-point move. "One key input to arrive at a final assessment is the inflation data this week," he added. The dollar index - which measures the currency against six major peers including the yen and euro - slipped 0.1% to 103.47. INTERVENTION TERRITORYThe dollar rose 0.35% to 146.38 yen .

Persons: Dado Ruvic, Benjamin Schroeder, pare, Charu, Jerome Powell, Naoki Tamura, bitcoin, cryptocurrency, Joice Alves, Kevin Buckland, Tom Westbrook, Miral Fahmy, Alex Richardson Organizations: U.S, REUTERS, European Central Bank, Federal, Reuters, Money, ECB, ING, Fed, Saxo . Money, Bank of Japan, Reserve Bank of Australia, People's Bank of, Thomson Locations: Germany, Spain, North Rhine, Westphalia, NRW, People's Bank of China, London, Tokyo

☆ Strategist backs defensives as data leans toward a slowing U.S. economy
▼ + stars: | 2023-08-30 | 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 EmailStrategist backs defensives as data leans toward a slowing U.S. economyCharu Chanana, market strategist at Saxo Capital Markets, shares her view on the latest U.S. economic data and how to position stock market allocations to best navigate the current uncertainty.

Organizations: Saxo Capital Markets

☆ Dollar drops on jobs data, yen rises from 10-month low
▼ + stars: | 2023-08-29 | by ( Karen Brettell | ) www.reuters.com time to read: +4 min

The Japanese yen also gained, after earlier falling to a 10-month low. The dollar briefly reached an almost 10-month high against the Japanese yen earlier on Tuesday, before dropping on the jobs data. The Bank of Japan remains an outlier among global central banks with its loose monetary policy, even as it slowly shifts away from yield curve control. “It is moving away from excessively loose monetary policy, but it’s doing so at a very slow and measured pace,” Rai said. Japan intervened in currency markets last September when the dollar rose past 145 yen, prompting the Ministry of Finance to buy the yen and push the pair back to around 140 yen.

Persons: Dado Ruvic, Jerome Powell, Bipan Rai, ” Rai, “ It’s, Charu, Kazuo Ueda, Lee Hardman, Karen Brettell, Alun John, Sharon Singleton, Jonathan Oatis Organizations: REUTERS, U.S, Action Economics, Federal Reserve, CIBC Capital Markets, Bank of Japan, Ministry of Finance, Saxo, Jackson, European Central Bank, Thomson Locations: North American, Toronto, U.S, Japan, London

☆ Dollar soft as markets brace for data fest; yen under pressure
▼ + stars: | 2023-08-29 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

The dollar index , which measures U.S. currency against six key rivals, eased 0.077% at 103.85, after slipping 0.2% on Monday. The index is up 2% this month as resilient economic data bolstered expectations that interest rates may stay higher for longer. The yen inched up 0.12% to 146.36 per dollar in Asian hours but remained close 146.75, its lowest level since Nov.9. Japan intervened in currency markets last September when the dollar rose past 145 yen, prompting the Ministry of Finance (MOF) to buy the yen and push the pair back to around 140 yen. The Australian dollar added 0.03% to $0.643, while the New Zealand dollar eased 0.02% to $0.591.

Persons: Dado Ruvic, Jerome Powell, Carol Kong, CBA's Kong, Jackson, Chanana, Ueda, Sterling, Ankur Banerjee, Shri Navaratnam Organizations: REUTERS, Rights, U.S, Reuters, Commonwealth Bank of Australia, Ministry of Finance, United, Saxo, Jackson, New Zealand, Thomson Locations: Japan, United States, Tokyo, Singapore

☆ Dollar soft as markets brace for data fest, yen under pressure
▼ + stars: | 2023-08-29 | by ( ) www.cnbc.com time to read: +3 min

The dollar index , which measures U.S. currency against six key rivals, eased 0.077% at 103.85, after slipping 0.2% on Monday. The index is up 2% this month as resilient economic data bolstered expectations that interest rates may stay higher for longer. The yen inched up 0.12% to 146.36 per dollar in Asian hours but remained close 146.75, its lowest level since Nov. 9. Japan intervened in currency markets last September when the dollar rose past 145 yen, prompting the Ministry of Finance to buy the yen and push the pair back to around 140 yen. The Australian dollar added 0.03% to $0.643, while the New Zealand dollar eased 0.02% to $0.591.

Persons: Jerome Powell, Carol Kong, CBA's Kong, Jackson, Chanana, Ueda, Sterling Organizations: U.S, Reuters, Commonwealth Bank of Australia, Ministry of Finance, United, Saxo, Jackson, New Zealand Locations: Nantong, China's, Jiangsu, Japan, United States

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 19, 2023. If the yield on the 10-year note, last at 4.296%, crosses 4.338%, it would hit its highest level since 2007. Investors are now keenly waiting for comments from Federal Reserve Chair Jerome Powell on Friday at a meeting of central bankers at Jackson Hole in Wyoming that begins on Aug. 24. "The Jackson Hole symposium will be key to assess Powell's dovishness meter. Nvidia earnings will be a major test for this year's stock market rally, which has been fueled by optimism around the potential for artificial intelligence.

Persons: Brendan McDermid, Jerome Powell, Jackson, Charu Chanana, Amruta Khandekar, Arun Koyyur, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Alto, Broadcom Futures, Dow, Nasdaq, Nvidia, Strong, Reserve, Federal, Saxo Markets, Reuters Graphics Reuters, Traders, HSBC, Dow e, Palo Alto Networks, CrowdStrike Holdings, VMware, Thomson Locations: New York City, U.S, Jackson, Wyoming

Japanese Yen and U.S. dollar banknotes are seen in this illustration taken March 10, 2023. The dollar hit a one-month high against a basket of major currencies, before steadying, as investors sought a safe haven on concerns about China's economy. Japan's currency weakened to as low as 145.22 per dollar in early Asian hours, its lowest since Nov. 10, before quickly reversing course in a volatile start to the week. Japan intervened in currency markets last September when the dollar rose past 145 yen, prompting the Ministry of Finance (MOF) to buy the yen and push the pair back to around 140 yen. With the yen loitering around the 145 level again, traders expect Japanese officials to start warning of intervention soon as they did in June.

Persons: Yen, Dado Ruvic, Charu Chanana, Chris Turner, Russia's rouble, Sterling, Joey Chew, Ankur Banerjee, Harry Robertson, Shri Navaratnam, Lincoln, Susan Fenton Organizations: REUTERS, Bank of Japan, Ministry of Finance, Saxo Markets, International Trust Co, ING, Australian, Federal, Asia FX, HSBC, Thomson Locations: SINGAPORE, Japan, United States, China, U.S, Russian, Ukraine, Asia, Singapore, London

Three of the six central banks overseeing the 10 most heavily traded currencies that met in July hiked rates, while the other three kept their benchmarks unchanged, Reuters data showed. "Chile announced a larger-than-expected rate cut, and is the first emerging market to jump on the easing bandwagon in the current cycle," said Charu Chanana, market strategist at Saxo. Twelve out of 18 central banks in the Reuters sample of developing economies had interest rate setting meetings in July. However, nine central banks opted to keep policy unchanged, with rate hikes coming from Turkey and Russia - two countries whose monetary policy circles are determined by domestic dynamics rather than global trends. On the rate cutting side, emerging market central banks have seen three cuts reducing interest rates by 160 bps in total.

Persons: Christian Keller, Costa, Charu, Karin Strohecker, Vincent Flasseur, David Evans Organizations: LONDON, U.S . Federal Reserve, Bank of Canada, European Central Bank, Fed, ECB, Barclays, Saxo, Thomson Locations: Chile, Turkey, Russia, Latin America, Costa Rica, Uruguay

The greenback was down 0.18% at 1104 GMT to 144.44 yen , after rising 0.27% on Monday. However, the yen remained close to last week's almost eight-month low of 145.07 per dollar, which prompted Japan's Finance Minister Shunichi Suzuki to warn against excessive yen selling. Market activity was relatively subdued with U.S. markets closed for the July 4 public holiday. Across currency markets, investors remained on watch for possible intervention by Japanese authorities to stem yen losses. Tan said the dollar is likely to rise past 150 yen, which would make intervention "more likely than not".

Persons: Shunichi Suzuki, Alvin Tan, Masato Kanda, Janet Yellen, Charu, Tan, Harry Robertson, Ankur Banerjee, Kevin Buckland, Shri Navaratnam, Emma Rumney, Christina Fincher Organizations: LONDON, Japan's Finance, U.S, Federal, U.S ., Asia FX, RBC Capital Markets, Reserve Bank of Australia, Australian, Treasury, Reuters, Saxo Markets, Japan, Bank, Bank of, Thomson Locations: SINGAPORE, Asia, Bank of Japan, London, Singapore

☆ Yen steady, markets on intervention alert; Aussie up before RBA decision
▼ + stars: | 2023-07-04 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

"This is sending signals that a coordinated intervention may be coming as yen continues to hover above 144 per dollar," said Charu Chanana, market strategist at Saxo Markets. "A coordinated intervention usually has a longer lasting impact on the yen than a unilateral intervention would have." RBA WATCHThe focus in Asian hours will be on the policy decision from the Reserve Bank of Australia (RBA). "We estimate that a hike would push up Aussie modestly by 0.8% so long as the post‑meeting statement was not dovish. The Australian dollar was at $0.668, up 0.16% against the U.S. dollar, while the New Zealand dollar was also up 0.16% at $0.616.

Persons: Shunichi Suzuki, Masato Kanda, Janet Yellen, Charu, Kristina Clifton, CBA's Clifton, Ankur Banerjee, Shri Navaratnam Organizations: U.S, Treasury, Saxo Markets, Bank, Commonwealth Bank of Australia, U.S . Federal, Reserve Bank of Australia, Reuters, Australian, U.S ., New Zealand, Thomson Locations: SINGAPORE, Japan, U.S, United States, U.S ., Tokyo, Singapore

☆ Yen steady, markets on intervention alert, Aussie up before RBA decision
▼ + stars: | 2023-07-04 | by ( ) www.cnbc.com time to read: +3 min

The yen nudged up on Tuesday but remained vulnerable to more weakness, hovering near the key 145 per dollar level as markets were on alert for signs of intervention, while the Australian dollar moved up ahead of a central bank policy decision. "This is sending signals that a coordinated intervention may be coming as yen continues to hover above 144 per dollar," said Charu Chanana, market strategist at Saxo Markets. "A coordinated intervention usually has a longer lasting impact on the yen than a unilateral intervention would have." The focus in Asian hours will be on the policy decision from the Reserve Bank of Australia, or RBA. The Australian dollar was at $0.668, up 0.16% against the U.S. dollar, while the New Zealand dollar was also up 0.16% at $0.616.

Persons: Shunichi Suzuki, Masato Kanda, Janet Yellen, Charu, Kristina Clifton, CBA's Clifton Organizations: U.S, Treasury, Saxo Markets, Bank, Commonwealth Bank of Australia, U.S . Federal, Reserve Bank of Australia, Reuters, Australian, U.S ., New Zealand Locations: Japan, U.S, United States, U.S .

☆ Warren Buffett pours more money into Japan’s stock market
▼ + stars: | 2023-06-19 | by ( ) edition.cnn.com time to read: +2 min

Billionaire investor Warren Buffett’s Berkshire Hathaway (BRKA) has added to its holdings in Japan’s five biggest trading houses, likely underpinning strong momentum propelling the nation’s stock market to multi-year highs. Berkshire said Monday its stakes in Itochu (ITOCF), Marubeni (MARUY), Mitsubishi Corp, Mitsui & Co (MITSY), and Sumitomo now average more than 8.5%. “The tailwinds for Japanese equities continue to multiply,” said Charu Chanana, market strategist at broker Saxo Markets in Singapore. Known as “sogo shosha,” Japanese trading houses deal in a variety of materials, products and food, often serving as intermediaries, and provide logistical support. The trading firms’ regulatory filings of June 12 showed Berkshire holding 7.4% of Itochu’s stock, 8.3% of Marubeni and Mitsubishi’s stock, 8.1% of Mitsui’s stock and 8.2% of Sumitomo’s stock.

Persons: Warren Buffett’s Berkshire Hathaway, Monday’s, ”, Charu Organizations: Berkshire, Mitsubishi Corp, Mitsui & Co, Sumitomo, Nikkei, Saxo Markets, America Berkshire Locations: Singapore, Berkshire, United States

☆ Asia shares near 4-month peak, yen falls as BOJ maintains policy
▼ + stars: | 2023-06-16 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

The BOJ rounded up a central bank heavy week, keeping its pledge to "patiently" sustain massive stimulus to ensure Japan sustainably achieves its 2% inflation target accompanied by wage hikes. As widely expected, the BOJ maintained its -0.1% short-term interest rate target and a 0% cap on the 10-year bond yield set under its yield curve control (YCC) policy. Markets are now pricing in 67% chance of the U.S. central bank raising its interest rate by 25 basis points next month, according to CME FedWatch tool. The European Central Bank on Thursday left the door open to more rate hikes as it flagged risks from rising wages and revised up its inflation projections. The ECB also raised interest rates by 25 bps taking its policy rate to 3.5%, a level not seen since 2001.

Persons: DAX, Kazuo Ueda's, Charu, HSI, Ryan Brandham, Lagarde, Brent, Ankur Banerjee, Kim Coghill Organizations: Federal, Bank of Japan, Ueda, Saxo Markets, Nikkei, Nasdaq, Validus Risk Management, European Central Bank, ECB, NatWest Markets, China . U.S . West Texas, Thomson Locations: SINGAPORE, Asia, Pacific, Japan, North America, U.S, China . U.S

☆ Dollar nudges lower as U.S. debt ceiling deal dents safe-haven appeal
▼ + stars: | 2023-05-29 | by ( Dhara Ranasinghe | ) www.reuters.com time to read: +4 min

Summary Dollar edges down following U.S. debt ceiling dealRisk currencies rallyTurkish lira touches new record lowLONDON, May 29 (Reuters) - The dollar nudged lower on Monday, pulling back from six-month peaks against the yen as a U.S. debt ceiling deal lifted risk appetite across world markets and dented the greenback's safe-haven appeal. Having briefly touched a six-month high of 140.91 yen during Asia trade, the dollar drifted lower and was last down 0.25% at 140.25 yen. "We've got a risk-positive response so far to the debt deal news," said Ray Attrill, head of FX strategy at National Australia Bank. "Obviously there's still the need to get this debt deal over the line, but I think markets are happy to travel on the presumption that it will get done before the new X-date." Talk that the U.S. rate hiking cycle may not be over as soon as hoped given signs of economic strength have bolstered the dollar this month and could support the currency even as U.S. debt ceiling worries abate.

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