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☆ Japanese yen weakens to fresh 38-year lows; top currency diplomat replaced
  + stars: | 2024-06-28 | by ( Lim Hui Jie | ) www.cnbc.com   time to read: +2 min
Sopa Images | Lightrocket | Getty ImagesThe Japanese yen weakened to fresh 38-year lows on Friday, crossing the 161 mark against the dollar for the first time since 1986 and reaching a high of 161.27, according to LSEG data. The yen has been steadily deprecating since the Bank of Japan ended its negative interest rate policy and scrapped its yield curve control policy in March. Following the move, the currency crossed the 150 mark against the dollar, reaching 160 in late April before the country's finance ministry intervened. Stock Chart Icon Stock chart iconJapan's finance ministry confirmed that it intervened between April 26 to May 29 to the tune of 9.7885 trillion yen ($62.25 billion). The benchmark U.S. federal funds rate stands at 5.25% to 5.5%, while the Bank of Japan's benchmark interest rate is at 0%-0.1%.
Persons: Dong Chen, Dong Organizations: Currency Museum, Bank of Japan's Institute for Monetary, Economic Studies, Bank of Japan, Japan Ministry of Finance, U.S, Bank Locations: Asia, Swiss, Japan
☆ Japan optimism has been fueled by 'game-changing' reforms and Warren Buffett: Here's what you need to know
  + stars: | 2023-06-13 | by ( Clement Tan | ) www.cnbc.com   time to read: +8 min
The Tokyo Exchange Group recently finalized its market restructuring rules. Warren Buffett's bullish calls on Japanese equities has also helped boost confidence among foreign investors. It could in turn lead to a domino effect among other Japanese companies once the big players start to make changes. Corporate governance is the "third arrow" of the three core tenets of Abenomics — monetary easing and fiscal stimulus are the other two. Buffett's May disclosures helped spur 10 straight weeks of net foreign purchases of Japanese equities.
Persons: Richard A, Brooks, Oliver Lee, Warren Buffett's bullish, —, Yunosuke Ikeda, Nomura's Ikeda, Shinzo Abe, Warren, Berkshire, Asli, Shuntaro Takeuchi, Matthews Asia, Buffett, Berkshire Hathaway, that's, Matthews Asia's Takeuchi, We're, Oliver Lee Eastspring, Eastspring's Lee Organizations: Afp, Getty, Nikkei, Tokyo Stock Exchange, Tokyo Exchange Group, CNBC, Tokyo bourse, Berkshire Hathaway, Kyoto, Investing, Buffett, Foreigners, Japan Ministry of Finance, Kyoto University's Graduate School of Management, Graduate School of Economics, Mitsui & Co, Hitachi Locations: Japan, Tokyo, Singapore, Abenomics, San Francisco
☆ Japan Piled Back Into U.S. Treasurys This Year. Investors Worry It Won’t Last.
  + stars: | 2023-03-06 | by ( Eric Wallerstein | ) www.wsj.com   time to read: 1 min
Kazuo Ueda is widely expected to further relax Japan’s yield-curve control policy. Japan’s rebounding appetite for U.S. Treasurys supported shaky bond markets early this year. Now, investors worry it might be growing satiated. Japanese investors bought the most long-term foreign bonds in the week ended Feb. 17 since the onset of Covid-19, according to Japan Ministry of Finance data. Institutional investors—comprising banks, life insurers and pensions—added nearly $21 billion to their foreign bondholdings.
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