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Top related persons:
Sterling - 2 Alan Ruskin - 1 James Malcolm - 1 10bp - 1 Daniel Hurley - 1 Rowe Price - 1 Ray Sharma - 1 Ong - 1
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Resona Bank - 3 U.S - 3 New Zealand - 3 Federal Reserve - 2 Bank of Japan - 2 U.S . Treasury - 1 The Bank of - 1 Deutsche Bank - 1

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6 mentions found


☆ Yen languishes as focus turns to Fed
  + stars: | 2023-11-01 | by ( ) www.cnbc.com   time to read: +3 min
Against the dollar, the yen fell about 1.7% overnight, touching a low of 151.74 — a whisker from the 151.94 level that prompted intervention a year ago. In the U.S. data showed wages and salaries rose solidly last quarter and while consumer confidence ebbed, it fell far less than markets had expected. The euro declined 0.4% on the dollar overnight and nursed losses at $1.0579. China's Caixin PMI data will be in focus later on Wednesday, ahead of U.S. manufacturing and private payrolls figures — before the Fed meeting. U.S. yields rose in early Asia trade, while Japanese yields fell slightly on thin volumes, leaving the spread between benchmark 10-year rates at 398 bps.
Persons: Alan Ruskin, Sterling, James Malcolm, 10bp Organizations: Resona Bank, U.S, Federal Reserve, U.S . Treasury, New Zealand, The Bank of, Deutsche Bank, UBS Locations: Tokyo, Japan, Asia, The, The Bank of Japan, U.S, London
☆ Yen under pressure as U.S. Treasury yields push over-decade peaks
  + stars: | 2023-09-22 | by ( ) www.cnbc.com   time to read: +3 min
A bundle of Japanese 10,000 yen banknotes on a tray arranged at a branch of Resona Bank Ltd. in Tokyo, Japan. The yen was held at the mercy of soaring U.S. Treasury yields on Friday ahead of a closely watched rate decision by the Bank of Japan, or BOJ, while the dollar stood near a six-month peak on the prospect of higher-for-longer U.S. rates. The Japanese currency was last marginally lower at 147.6 in early Asia trade, languishing near the previous session's more than 10-month low of 148.465. The yen was also kept under pressure as a result of elevated U.S. Treasury yields, which scaled multi-year highs in the previous session as markets reeled from a hawkish pause by the Federal Reserve on Wednesday. The U.S. dollar likewise rode Treasury yields higher and against a basket of currencies, the greenback touched a more than six-month high of 105.74 in the previous session.
Persons: Daniel Hurley, Rowe Price, Ray Sharma, Ong, Sterling, BoE, Daniela Hathorn Organizations: Resona Bank, Treasury, Bank of Japan, Federal Reserve, U.S, New Zealand, Fed, Bank of England Locations: Tokyo, Japan, Asia
☆ Yen pressured as traders wait on policy decisions
  + stars: | 2023-07-24 | by ( ) www.cnbc.com   time to read: +2 min
A bundle of Japanese 10,000 yen banknotes on a tray arranged at a branch of Resona Bank Ltd. in Tokyo, Japan. The Federal Reserve concludes a meeting on Wednesday, followed by the European Central Bank a day later and the Bank of Japan on Friday. It is under pressure as the central bank believes it is finished hiking rates and export prices have dragged as China's post-pandemic recovery has disappointed. "As long as dairy prices remain under pressure, the New Zealand dollar is unlikely to thrive," said ANZ analysts. On the data front, traders will be watching out for Purchasing Manager's Index figures due across the globe through the trading day on Monday.
Persons: Bob Savage Organizations: Resona Bank, Bank of Japan, European Central Bank, Reuters, Swiss, U.S, BNY Mellon, ECB, New Zealand, ANZ Locations: Tokyo, Japan, Europe, United States
☆ Yen set to snap 3-week losing streak on bank jitters, dollar slips
  + stars: | 2023-05-05 | by ( ) www.cnbc.com   time to read: +3 min
A bundle of Japanese 10,000 yen banknotes on a tray arranged at a branch of Resona Bank Ltd. in Tokyo, Japan. "The Japanese yen has slowly gained back its appeal of safe haven status, and has definitely been supported by concerns about U.S. regional banks and the associated safe-haven demand," Kong said. A deepening crisis across U.S. regional banks have kept investors on tenterhooks, with pressure growing on U.S. regulators to take more steps to shore up the sector. "For the Fed's June decision, inflation data and employment indicators ... along with bank lending standards will be key to watch. Down Under, the Australian dollar rose 0.26% to $0.6711, while the kiwi NZD=D3 touched a three-week high of $0.6311.
☆ Incoming Bank of Japan head says merits of ultra-low rates exceed costs
  + stars: | 2023-02-27 | by ( ) www.cnbc.com   time to read: +1 min
A bundle of Japanese 10,000 yen banknotes on a tray arranged at a branch of Resona Bank Ltd. in Tokyo, Japan. Incoming Bank of Japan Governor Kazuo Ueda said on Monday the country's trend inflation must heighten significantly for the central bank to consider tightening monetary policy. The recent rise in Japan's consumer inflation is driven by cost-push factors rather than strong demand, warranting the BOJ to maintain ultra-loose policy, Ueda said. For now, the merits of the BOJ's current monetary policy outweigh the costs, Ueda said, stressing the need to maintain support for the country's economy with ultra-low interest rates. "Big improvements must be made in Japan's trend inflation for the BOJ to shift towards monetary tightening," Ueda said.
☆ Yen perched near 7-month high as BOJ decision looms
  + stars: | 2023-01-17 | by ( ) www.cnbc.com   time to read: +3 min
A bundle of Japanese 10,000 yen banknotes on a tray arranged at a branch of Resona Bank Ltd. in Tokyo, Japan. The dollar drifted up from multi-month lows on Tuesday, while the yen was perched near seven-month highs as investors held their breath for a potential policy shift at the Bank of Japan. The yen rose 3% against the dollar last week, and one-week implied volatility for dollar/yen is at its highest since March 2020. "The yen would explode higher, Japanese government bond yields would explode higher and global yields would go higher," he said. The New Zealand dollar held at $0.6394.
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