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☆ Dollar sitting pretty, yen bears wary of Bank of Japan hawks
▼ + stars: | 2024-11-18 | by ( ) www.cnbc.com time to read: +3 min

Yen bears were tense in case Bank of Japan Governor Kazuo Ueda used a speech later Monday to flag a possible rate hike in December, in part due to the weakness of the currency. Markets imply around a 55% chance of a quarter-point rate hike to 0.5% when the BOJ meets on Dec. 19. Against a basket of currencies the dollar held at 106.730, having touched a one-year top of 107.07 on Friday. The rally has coincided with a savage swing in 10-year Treasury yields, which have climbed 70 basis points since the start of October, fuelling a 5.4% rise in the U.S. dollar index . Analysts generally assume Trump's touted policies of tariffs, reduced immigration and debt-funded tax cuts will be inflationary, so limiting the scope for further rate cuts by the Federal Reserve.

Persons: Kazuo Ueda, Ueda, Donald Trump's, Katsunobu Kato, Jonas Goltermann, Trump, Howard Lutnick, Cantor Fitzgerald, Scott Bessent Organizations: Bank of Japan, U.S, Japanese Finance, Capital Economics, Trump, Federal Reserve, Central Bankers Locations: U.S, Japan, Canada

☆ Yen wobbles, vulnerable to political reverberations
▼ + stars: | 2024-10-25 | by ( ) www.cnbc.com time to read: +4 min

Japanese yen banknotes of various denominations are arranged for a photograph in Tokyo, Japan, on July 22, 2015. The yen was last 0.1% lower at 152 per dollar and was looking at a 1.5% loss for the week. The yen has fallen roughly 5.5% for the month thus far, setting it up for its worst monthly decline since April 2022. Against the dollar, the euro last bought $1.08225, some distance away from its low of $1.076125 hit earlier this week. The dollar index last ticked up 0.04% to 104.09, after having scaled a roughly three-month high of 104.57 earlier in the week.

Persons: Ray Attrill, Katsunobu Kato, Janet Yellen, Donald Trump, Nick Rees, Sterling Organizations: of Japan's, Treasury, Liberal Democratic Party, LDP, National Australia Bank, country's Finance, FX, Monex, New Zealand Locations: Tokyo, Japan, Japanese, Germany —

☆ Yen rises as carry trades unwind, risk sentiment takes a hit
▼ + stars: | 2024-07-25 | by ( ) www.cnbc.com time to read: +2 min

The yen drew support from unwinding carry trades on Thursday ahead of next week's Bank of Japan (BOJ) policy meeting and as a rotation out of megacap growth stocks dampened risk appetite broadly and provided some safe haven bids. "It's also the fact that risk sentiment is deteriorating, and that's helped (the yen) as well... You've got unwind in the tech trade, you've got unwind in the carry yen trade...you've got the Nikkei, as well, unwinding." Japanese Finance Minister Shunichi Suzuki and top currency diplomat Masato Kanda both refrained from commenting on the yen's recent sharp rise. The New Zealand dollar similarly fell 0.24% to $0.5915.

Persons: Tony Sycamore, It's, that's, You've, you've, Shunichi Suzuki, Masato Kanda, Sterling Organizations: week's Bank of Japan, New, Reuters, IG, Nikkei, Japanese Finance, PMI, Traders, Federal, Australian, New Zealand Locations: New Zealand, U.S, Down

New Japanese 1000 Yen banknote on display inside the Currency Museum of the Bank of Japan's Institute for Monetary and Economic Studies. Data from Japan's Ministry of Finance on Friday confirmed the country's first currency intervention since 2022, after the yen plunged to a 34-year-low in April. The ministry on Friday stated Japan spent 9.7885 trillion yen ($62.25 billion) on currency intervention between April 26 and May 29, according to a Google-translated statement. Japan last intervened to stabilize the currency in October 2022, when the yen fell to lows of around 152 per dollar. Authorities intervened three times that year to stabilize the currency, reportedly spending as much as a combined 9.2 trillion yen over the period.

Persons: Shunichi Suzuki, Suzuki, CNBC's Dan Murphy Organizations: Currency Museum, Bank of Japan's Institute for Monetary, Economic Studies, Japan's Ministry of Finance, U.S, Bank of America Global Research, Bank of Japan, Japanese Finance, Authorities Locations: Japan, London

☆ Dollar droops to one-month low vs euro before key CPI test
▼ + stars: | 2024-05-15 | by ( ) www.cnbc.com time to read: +4 min

In this photo illustration, the new £10 note is seen alongside euro notes and U.S. dollar bills on Oct. 13, 2017 in Bath, England. The euro edged up 0.03% to $1.0823 in Asian trading hours, and earlier rose to $1.0828 for the first time since April 10. The dollar edged back 0.12% to 156.245 yen on Wednesday, but had pushed as high as 156.80 overnight. The dollar dropped 0.24% to 7.2232 yuan in offshore trading, after reaching the highest since May 1 at 7.2460 overnight. The New Zealand dollar climbed 0.37% to $0.6062, and earlier touched $0.6064 for the first time since April 10.

Persons: Alan Ruskin, Jerome Powell, Tony Sycamore, Joe Biden's Organizations: Reserve, U.S, Treasury, Deutsche Bank, Bank of Japan, CPI, IG, Australian, New Zealand Locations: Bath, England, U.S, China

☆ Japan's finance minister says yen intervention may be necessary when there are 'excessive' moves
▼ + stars: | 2024-05-03 | by ( Matt Clinch | ) www.cnbc.com time to read: +2 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. "When there is an excessive movement, it may be necessary to smooth it out," he told CNBC's Dan Murphy, according to a translation. Japanese Finance Minister Shunichi Suzuki on Friday backed currency interventions by his country's policymakers if the yen moved in sharp directions that started to impact households and companies. The finance minister declined to comment when asked whether current levels for the yen were appropriate. In the last few decades, while other global central banks have tightened their policies, Japan had maintained its ultra-loose strategy.

Persons: Shunichi Suzuki, CNBC's Dan Murphy, they've, Nicholas Smith Organizations: Toki, Japanese Finance, CNBC Locations: Niigata, Japan, Tbilisi , Georgia, propping

☆ Yen at its weakest in decades as BOJ meets
▼ + stars: | 2024-04-26 | by ( ) www.cnbc.com time to read: +3 min

The yen was parked by a 34-year low on the dollar and decade lows on other crosses ahead of a Bank of Japan meeting where interest rates are expected to stay low, while the dollar dipped elsewhere on softer-than-expected U.S. growth data. The yen , however, fell to its weakest since 1990 at 155.75 per dollar, tracking a sharp rise in U.S. yields as separate figures showed a surge in an inflation measure. The size and persistence of the yield gap has encouraging short yen positions and drives Japanese money into dollar assets such as Treasuries, weighing on the currency. The Bank of Japan already hiked rates at a landmark meeting in March where it ended years of negative interest rates. The New Zealand dollar was a touch firmer in Asia morning trade at $0.5960 and has gained in the previous four sessions.

Persons: —, Shunichi Suzuki, Nathan Swami, I'm, Sterling Organizations: Bank of Japan, Japanese Finance, Bank of, Citi's, New Zealand Locations: Asia, Bank of Japan, Citi's Asia, Pacific, Singapore

☆ Dollar firms after hot retail sales, yen languishes; China data awaited
▼ + stars: | 2024-04-16 | by ( ) www.cnbc.com time to read: +3 min

The dollar stood just off its highest since early November against a handful of peer currencies on Tuesday, raising intervention worries as the yen languished at its lowest level since 1990 following hotter-than-expected U.S. retail sales. The dollar stood just off its highest since early November against a handful of peer currencies on Tuesday, raising intervention worries as the yen languished at its lowest level since 1990 following hotter-than-expected U.S. retail sales. In the U.S., retail sales rose 0.7% last month, compared with the 0.3% rise that economists polled by Reuters had forecast. The Japanese yen languished under the dollar's continued strength and large interest rate differential between the two countries, breaching 154 to hit a fresh 34-year low against the dollar on Monday. The offshore Chinese yuan was mostly unchanged at 7.2620 per dollar ahead of the key economic data releases out of China.

Persons: Matt Simpson, Shunichi Suzuki, Index's Simpson, bitcoin Organizations: Reuters, Federal Reserve, U.S ., U.S, Traders, Japanese Finance, European Central Bank Locations: China, U.S, Middle

☆ Yen crumbles under towering dollar and U.S. Treasury yields
▼ + stars: | 2024-04-12 | by ( ) www.cnbc.com time to read: +4 min

In this photo illustration, the man is holding several U.S. dollar bills with some Chinese yuan in the background. The yen struggled to break away from a 34-year low on Friday and was headed for a weekly decline, while the dollar hovered near a five-month high alongside U.S. Treasury yields as traders heavily scaled back bets for a slew of U.S. rate cuts this year. The yen was last marginally higher at 153.17 per dollar, languishing near a 34-year trough of 153.32 per dollar hit in the previous session on the back of a surge in U.S. Treasury yields, which the dollar/yen pair tends to closely track. The benchmark 10-year yield was last at 4.5784%, flirting with a five-month peak of 4.5930% hit in the previous session. The renewed dollar strength also weighed on the Australian and New Zealand dollars , which each fell 0.02%.

Persons: Tony Sycamore, Shunichi Suzuki, David Doyle Organizations: U.S, Treasury, European Central Bank, Federal Reserve, IG, Japanese Finance, ECB, New, Macquarie Locations: U.S, United States, freefall, Tokyo, 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 finance minister says 'speculative' moves in currency market impacting yen
▼ + stars: | 2024-04-01 | by ( ) www.cnbc.com time to read: +1 min

The yen has been on a downtrend despite the BOJ's decision on March 19 to end eight years of negative interest rates. Japanese Finance Minister Shunichi Suzuki said on Monday there were some speculative moves in the currency market that did not reflect economic fundamentals, repeating his warning against excessive yen declines. "We will watch currency market developments with a strong sense of urgency, and will respond appropriately against excessive moves without ruling out any options," Suzuki told parliament. Suzuki said various factors are driving currency moves such as the Bank of Japan's decision to end negative interest rates, Japan's current account balance, price moves, geopolitical risks, as well as market players' sentiment and speculative trades. "As for the yen's recent declines, we believe there are some speculative moves that do not reflect fundamentals when taking into account domestic and overseas economic as well as price developments," he said.

Persons: Shunichi Suzuki, Suzuki Organizations: Japanese Finance, Bank of

☆ Japan flags 'speculative' yen moves, signals chance of intervention
▼ + stars: | 2024-03-29 | by ( ) www.cnbc.com time to read: +1 min

Japanese Finance Minister Shunichi Suzuki said on Friday there were "speculative" moves behind recent yen declines, suggesting authorities remained on stand-by to intervene in the market to address any excessive falls in the currency. Suzuki also said authorities were watching the speed, rather than the levels, of the yen's moves. He repeated Tokyo's recent warnings that authorities would not rule out any steps to respond to disorderly currency moves. "Given how the yen's declines are continuing despite the interest rate gap narrowing, albeit modestly, suggest that there are speculative moves in the market," Suzuki told parliament. Excessive volatility is undesirable, and we are watching market moves from this perspective," he said.

Persons: Shunichi Suzuki, Suzuki Organizations: Japanese Finance Locations: Tokyo

☆ Dollar dips, yen draws support from Tokyo's jawboning
▼ + stars: | 2024-03-26 | by ( ) www.cnbc.com time to read: +3 min

The dollar was on the back foot on Tuesday, owing to profit taking and pressured in part by a slightly stronger yen as Japanese government officials continued with their jawboning to defend the currency. The dollar was on the back foot on Tuesday, owing to profit taking and pressured in part by a slightly stronger yen as Japanese government officials continued with their jawboning to defend the currency. "But it's even tougher for the (dollar) to weaken when other central banks were sounding more dovish than a dovish Fed." The dollar index was last 0.02% lower at 104.20, while the euro rose 0.03% to $1.0840. "While they say that the fundamentals don't justify the price, the market's telling them something else," said IG's Sycamore.

Persons: he's, Tony Sycamore, Thierry Wizman, Shunichi Suzuki Organizations: New Zealand, Federal, IG, FX, Macquarie, Fed, Japanese Finance, Bank of Japan's Locations: U.S, Japan, United States, Sycamore

TOKYO (AP) — Asian shares were trading mixed on Monday, as investors awaited further indications the Federal Reserve might begin cutting interest rates. A top Japanese finance official expressed reservations about the recent surge in the U.S. dollar against the Japanese yen, fueling speculation about possible intervention in the market. Despite the BOJ’s decision to hike rates, cautious communication failed to stimulate demand for the Japanese yen,” said Luca Santos, currency analyst ACY Securities. The yield on the 10-year Treasury fell to 4.21% from 4.27% late Thursday. The U.S. Federal Reserve has indicated it may deliver three cuts to interest rates this year, as long as inflation keeps cooling.

Persons: Seng, Korea's Kospi, ”, Luca Santos, Brent Organizations: TOKYO, Reserve, Nikkei, Shanghai, U.S ., U.S, of, of Japan, ACY Securities, Dow Jones, Nasdaq, Treasury, U.S . Federal Locations: of Japan, Japan, U.S

☆ Yen near 10-week low, dollar buoyant as traders adjust rate bets
▼ + stars: | 2024-02-09 | by ( ) www.cnbc.com time to read: +3 min

The yen wallowed near a 10-week low on Friday, while the dollar ground towards a fourth weekly advance as traders dialed back bets on how quickly the Bank of Japan, or BOJ, will raise interest rates and how soon the Federal Reserve will cut them. The yen wallowed near a 10-week low on Friday, while the dollar ground towards a fourth weekly advance as traders dialed back bets on how quickly the Bank of Japan, or BOJ, will raise interest rates and how soon the Federal Reserve will cut them. The yen was little changed at 149.315 per dollar in early Asian trading, after dipping to 149.48 late in the previous session for the first time since Nov. 27. Both currencies have been relatively resilient with officials from the European Central Bank and Bank of England pushing back against market wagers on early rate reductions. New Zealand's dollar gained 0.34% to $0.6117, supported by bets for a delayed start to Reserve Bank rate cuts - or even the potential for further hikes - after data this week showed a stronger-than-forecast jobs market.

Persons: Shinichi Uchida, Shunichi Suzuki, Jerome Powell, FOMC, Richard Franulovich, Sharon Zollner, bitcoin Organizations: Bank of Japan, Federal Reserve, BOJ, Japanese Finance, Traders, European Central Bank and Bank of England, Reserve, ANZ Locations: Tokyo

☆ Dollar eases as traders weigh rate cut prospects
▼ + stars: | 2023-12-01 | by ( ) www.cnbc.com time to read: +3 min

Data on Thursday showed U.S. consumer spending rose moderately in October, while the annual increase in inflation was the smallest in more than 2-1/2 years. "It remains to be seen if getting from 3% to 2% will be easy, or if inflation will remain sticky in 2024." Federal Reserve policymakers signaled on Thursday that the U.S. central bank's interest rate hikes are likely over, but left the door open to further monetary policy tightening should progress on inflation stall. Investor focus will now move to comments from Fed Chair Jerome Powell later on Friday, with traders likely to scrutinize every word to sketch out rate outlook. The Australian dollar rose 0.20% to $0.662, while the New Zealand dollar rose 0.37% to $0.618.

Persons: Ryan Brandham, Jerome Powell, Powell, Carol Kong, Sterling, Toshiro Muto Organizations: Risk, Commonwealth Bank of Australia, Bank of Japan, New Zealand Locations: North America, U.S, Europe

☆ Asia stocks meander, yen fragile ahead of US inflation data
▼ + stars: | 2023-11-14 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was 0.23% higher, on course for its second straight day of gains. The Japanese yen was at 151.71 per dollar in Asian hours, having touched a one-year low of 151.92 on Monday. Investors are waiting for the U.S. inflation report, due later in the day, after Federal Reserve Chair Jerome Powell and other policymakers said they are still not sure that interest rates are high enough to tame inflation. Japan last intervened in the currency market - selling dollars and buying yen - in October last year. The dollar index , which measures the U.S. currency against six rivals, was up 0.057% at 105.69.

Persons: Shunichi Suzuki, DAX, Jerome Powell, Anderson Alves, Moody's, Fitch, Gary Dugan, YEN, Nicholas Chia, Brent, Ankur Banerjee, Shri Navaratnam Organizations: Japanese Finance, Federal, Reuters, U.S, AAA, Dalma Capital, Standard Chartered, Thomson Locations: SINGAPORE, Asia, Pacific, Japan, China, U.S, New York

☆ Asia stocks rise ahead of US inflation data; yen stumbles
▼ + stars: | 2023-11-14 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was 0.49% higher, while Tokyo's Nikkei (.N225) gained 0.36%. The Japanese yen was at 151.71 per dollar in Asian hours, having touched a one-year low of 151.92 on Monday. The U.S. inflation report, due later in the day, has investors' attention on Tuesday, especially after Federal Reserve Chair Jerome Powell and policymakers have said they are still not sure that interest rates are high enough to tame inflation. YEN WATCH RESUMESThe yen's broad decline has traders back to keeping an eye on whether the Japanese authorities will intervene. The dollar index , which measures the U.S. currency against six rivals, was up 0.057% at 105.69.

Persons: Australia's, Shunichi Suzuki, Jerome Powell, Anderson Alves, HSI, Fitch, Gary Dugan, Dugan, YEN, Nicholas Chia, Brent, Ankur Banerjee, Shri Navaratnam Organizations: Tokyo's Nikkei, Japanese Finance, Federal, Reuters, U.S, AAA, Dalma, Standard Chartered, Thomson Locations: SINGAPORE, Asia, Pacific, Japan, U.S, China, New York

☆ Morning Bid: Frail yen teeters as US CPI looms
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +3 min

Economists polled by Reuters expect headline U.S. consumer price inflation to slow to 3.3% in October from 3.7% in September, with the core inflation rate that strips out volatile components seen unchanged from September at 4.1%. If the battered currency breaks through last year's trough of 151.94, it would mark a 33-year low. In the corporate world, investors will keep an eye on Europe's most valuable company, Novo Nordisk (NOVOb.CO). Shares of the Danish drugmaker rose on Monday after data showed that the heart-protective benefits of its popular obesity drug Wegovy are not solely due to weight loss. Key developments that could influence markets on Tuesday:Economic events: UK average weekly earnings for September, Euro Zone Q3 flash GDP, Euro Zone employment flash Q3Reporting by Ankur Banerjee; Editing by Edmund KlamannOur Standards: The Thomson Reuters Trust Principles.

Persons: Ankur Banerjee, David Cameron's, Jerome Powell, Shunichi Suzuki, Edmund Klamann Organizations: U.S, Japan, Ankur, Reuters, Federal Reserve, Japanese Finance, Novo Nordisk, Walmart, Thomson Locations: Tokyo, Japan, Britain, Danish

Japanese Finance Minister Shunichi Suzuki arrives for a news conference during the annual meeting of the International Monetary Fund and the World Bank in Marrakech, Morocco, October 13, 2023. REUTERS/Susana Vera/File Photo Acquire Licensing RightsTOKYO, Nov 14 (Reuters) - Japanese Finance Minister Shunichi Suzuki said on Tuesday that the government would take all possible steps necessary to respond to currency moves, repeating his usual mantra that excessive swings were undesirable. Suzuki made the remarks when asked about impacts from the weak yen on households which have been pressured by rising living costs due to higher import prices for fuel and food. "What's important is to maximise positive effects from the weak yen while mitigating negatives," Suzuki told reporters. Japan last intervened in the currency market - selling dollars and buying yen - in October last year.

Persons: Shunichi Suzuki, Susana Vera, Suzuki, Shinichi Uchida, Tetsushi Kajimoto, Kaori Kaneko, Satoshi Sugiyama, Chang, Ran Kim Organizations: International Monetary Fund, World Bank, REUTERS, Rights, Japanese Finance, Bank, Bank of, Thomson Locations: Marrakech, Morocco, Japan, U.S

[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

A banknote of Japanese yen is seen in this illustration picture taken June 15, 2022. REUTERS/Florence Lo/Illustration Acquire Licensing RightsNov 14 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. The policy pressures facing Japanese authorities are intense, and the potential risks to financial markets if policymakers misstep are growing. After battling against deflation for decades, the Bank of Japan is moving away from ultra-loose policy. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Florence Lo, Jamie McGeever, Xi Jinping's, Joe Biden, Shunichi Suzuki, Goldman Sachs, Deutsche Bank's George Saravelos, Xi Jinping, Fed's Jefferson, Barr, Mester, Josie Kao Organizations: REUTERS, Economic Cooperation, U.S, Japanese Finance, Bank of, Deutsche Bank's, Mitsubishi UFJ, Sumitomo Mitsui Financial Group, Thomson, Reuters Locations: Tokyo, San Francisco, Asia, Bank of Japan, Japan, India

☆ CIMB, J Trust among suitors for Indonesia's Bank Commonwealth -sources
▼ + stars: | 2023-10-31 | by ( Yantoultra Ngui | Thomson Reuters | Yantoultra Ngui Is A Southeast Asia Deals Correspondent With Reuters In Singapore | ) www.reuters.com time to read: +2 min

REUTERS/Bazuki Muhammad/File Photo Acquire Licensing RightsSINGAPORE, Oct 31 (Reuters) - Malaysian bank CIMB (CIMB.KL) and Japanese finance company J Trust (8508.T) are among firms vying to buy Indonesia's PT Bank Commonwealth, a deal that could value the lender at $400-$500 million, two sources with knowledge of the matter said. Bank Commonwealth, which is 99% owned by Australia's biggest lender Commonwealth Bank of Australia (CBA) (CBA.AX), focuses on retail lending as well as corporate banking services for small and medium enterprises. 2 bank, and J Trust have expressed interest and are looking at submitting binding bids, the sources said. CIMB, J Trust, CBA and Morgan Stanley declined to comment. Bank Commonwealth did not respond to a Reuters request seeking comment.

Persons: Bazuki Muhammad, Morgan Stanley, Yantoultra Ngui, Anton Bridge, Kane Wu, Edwina Gibbs Organizations: CIMB, REUTERS, Rights, J Trust, Indonesia's PT Bank Commonwealth, Bank Commonwealth, Australia's, Commonwealth Bank of Australia, CBA, Bank International Indonesia, China's, China's Bank of, SS, Thomson Locations: Kuala Lumpur, Rights SINGAPORE, Malaysian, Indonesia, Southeast, Southeast Asia, China's Bank, China's Bank of Hangzhou, Hangzhou, Singapore, Tokyo

☆ Dollar firms, yen weakens to intervention-wary level
▼ + stars: | 2023-10-26 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

Banknotes of Japanese yen and U.S. dollar are seen in this illustration picture taken September 23, 2022. The Japanese yen touched a fresh one-year low of 150.32 per dollar overnight and was last at 150.26. Japanese finance minister Shunichi Suzuki warned investors against selling the yen again on Thursday, saying authorities were closely watching moves. The New Zealand dollar also touched an 11-month low of $0.5780 and was last down 0.22% at $0.5788. Soft European economic data and negative interest rate differentials between Europe and the US will likely keep a lid on euro/dollar."

Persons: Florence Lo, Shunichi Suzuki, Suzuki, Carol Kong, Rodrigo Catril, CBA's, Sterling, bitcoin, Ankur Banerjee, Edwina Gibbs Organizations: U.S, REUTERS, Rights, Commonwealth Bank of Australia, Bank of Japan, Reuters, Australian, New Zealand, Benchmark, National Australia Bank, Canadian, Bank of Canada, European Central Bank, ECB, Thomson Locations: Rights SINGAPORE, Europe, Singapore

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