DIRS.INFO The most relevant business & tech news

☆ Canadian dollar hits 6-month low as bond yields soar
▼ + stars: | 2023-10-03 | by ( Fergal Smith | ) www.reuters.com time to read: +2 min

A Canadian dollar coin, commonly known as the "Loonie", is pictured in this illustration picture taken in Toronto, January 23, 2015. "It's been dragged around with higher U.S. yields, that's for sure," said Amo Sahota, director at Klarity FX in San Francisco. "The U.S. dollar has been on an 11-week run to the upside, so that's not necessarily helping the loonie." Vincent's comments helped underpin Canadian bond yields, Sahota said, adding that the market is "still gunning for another rate hike" from the Canadian central bank. Canadian government bond yields surged across the curve, playing catch-up with moves in U.S. Treasuries after the Canadian market was closed on Monday.

Persons: Mark Blinch, It's, Amo Sahota, Nicolas Vincent said, Vincent's, Sahota, gunning, Fergal Smith, Richard Chang Organizations: REUTERS, greenback, Canadian, U.S, Bank of Canada, FX, BoC, Treasuries, Thomson Locations: Toronto, TORONTO, San Francisco, U.S, Canadian

☆ Russian ruble weakens past symbolic threshold of 100 against the dollar
▼ + stars: | 2023-10-03 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

A woman looks at a board showing the rates of dollars and euros against the ruble in front of the exchange office on February 19, 2023, in Moscow, Russia. Russia's economy is beginning to feel the weight of Western sanctions, following the start of the war against Ukraine. The Russian ruble weakened beyond a symbolic threshold of 100 to the U.S. dollar in the early hours of Tuesday as foreign currency outflows and a shrinking balance of trade continue to weigh on the currency. The ruble recovered slightly through the morning, and was hovering just above 99.5 versus the greenback by around 8 a.m. London time. When the ruble last weakened into triple digits in August, the Bank of Russia called an emergency meeting to hike interest rates by 350 basis points to 12%.

Persons: Vladimir Putin's Organizations: Ukraine, U.S, Bank of Russia, Bank of Locations: Moscow, Russia, London, Russian, Bank of Russia

☆ Bonds, oil and the dollar: What investors need to know about these 3 headwinds for stocks
▼ + stars: | 2023-10-03 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +11 min

We're talking about this year's rise in bond yields, oil prices and the dollar — all at the time same. Nevertheless, bond yields, oil prices and the dollar always have far-reaching implications for the stock market. "The higher yields, that's what's been pressuring the equity market," Wharton School professor Jeremy Siegel said Monday on CNBC. In early September, the two countries announced their supply cuts would extend through year-end, a surprise decision that added upward pressure on oil prices. The picture is less clear-cut when considering the impact higher oil prices can have on consumers and non-energy companies.

Persons: —, what's, Jeremy Siegel, Brent, WTI, It's, Siegel, Wharton's Siegel, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: Nasdaq, U.S, multiweek United Auto Workers, General Motors, Club, Ford, Wharton, CNBC, Federal, Fed, Dow Jones, West, Brent, Natural Resources, Coterra Energy, Consumers, JPMorgan, Procter, Gamble, Apple, New York Stock Exchange, Getty Locations: U.S, Ukraine, West Texas, Saudi Arabia, Russia, tailwind, headwind

☆ China and India are so far into frenemy zone that they may never join forces to topple the dollar
▼ + stars: | 2023-10-03 | by ( Huileng Tan | ) www.businessinsider.com time to read: +7 min

The economist who coined the "BRIC" acronym said the currency idea seemed "crazy." The bloc is helmed by the major emerging nations of Brazil, Russia, India, China, and South Africa. It also appears that it's just Russia and Brazil that have really pushed for a BRICS common currency. But even if a BRICS currency comes to pass, its use could be limited. AdvertisementAdvertisementPrakash said a BRICS currency would be used in "very narrow and vertical settings, or for BRICS projects."

Persons: —, Washington, Joseph Sullivan —, There's, Jim O'Neill, Goldman Sachs, O'Neill, Xi Jinping, Narendra Modi, Xi, didn't, Li Qiang, Liu Pengyu, Modi, Liu, there's, Abishur Prakash, it's, China hasn't, Palit, Prakash Organizations: Service, White House, Indian, Monetary Fund, China's, UN, China, Institute of South Asian Studies, National University of Singapore, Affairs Ministry Locations: China, India, Russia, Ukraine, Brazil, South Africa, Europe, Africa, Beijing, New Delhi, Johannesburg, China's Washington, DC, BRICS

☆ Dollar weakens against the yen after yen breaches key 150 level
▼ + stars: | 2023-10-03 | by ( ) www.cnbc.com time to read: +3 min

The Japanese yen has fallen about 25% year-to-date against the greenback. The sharp move lower suggested the Bank of Japan had intervened in the market to keep the yen from falling further. "The continued uptrend in UST-JGB encouraged the 150 to be breach in the wake of the better-than-expected JOLTS data. The dollar slipped 0.51% against the yen to 149.08 after hitting 150.165 on the JOLTS report. The dollar index, which tracks the unit against six peers, was up 0.13% at 107.16, at its highest since November.

Persons: Michael Brown, Marc Chandler, Jeremy Stretch, JGB, Stretch, Shunichi Suzuki, Wei Liang Chang, Russia's rouble Organizations: greenback, The, Bank of Japan, New York Federal Reserve, Trader, Bannockburn Global, U.S, CIBC Capital Markets, UST, Finance, DBS, Strong U.S, Federal Reserve, Reserve Bank of Australia's, Swiss Locations: London, Bannockburn, New York, United States, Europe

Japanese yen and U.S. dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken June 16, 2022. "It's the feeling that the U.S. economy can stomach higher interest rates for a little bit longer," said Bipan Rai, North America head of FX strategy at CIBC Capital Markets in Toronto. "Implicitly it also means that the Fed might not be so quick to cut rates next year either," he said. The Japanese yen weakened 0.31% versus the greenback at 149.77, after falling to 149.90. Investors have been closely watching for signs of intervention in the Japanese currency by the Bank of Japan (BOJ).

Persons: Florence Lo, Kevin McCarthy, Bipan Rai, Edward Moya, Michelle Bowman, Shunichi Suzuki, Chuck Mikolajczak, Marguerita Choy, Alison Williams Organizations: U.S, REUTERS, Federal Reserve, Institute for Supply Management, Congress, Democratic, Republican, Treasury, CIBC Capital Markets, Investors, Bank of Japan, Fed, Bank of Japan's, Japan's Finance, Thomson Locations: U.S, North America, Toronto, New York

☆ Global stock index dips while bond yields, dollar climb
▼ + stars: | 2023-10-02 | by ( Sinéad Carew | ) 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., September 28, 2023. While U.S. indexes were a mixed bag in morning trading, in Europe stocks lost earlier gains after September PMI data, a key indicator of economic health, showed manufacturing activity remains in a broad-based downturn. The pan-European STOXX 600 index (.STOXX) lost 1.21% and MSCI's gauge of stocks across the globe (.MIWD00000PUS) shed 0.56%. In currencies, the dollar index rose 0.565%, with the euro down 0.69% to $1.0497. Spot gold dropped 1.1% to $1,828.70 an ounce, while U.S. gold futures fell 0.65% to $1,836.00 an ounce.

Persons: Brendan McDermid, Michael Lorizio, Shunichi Suzuki, Brent, Karen Brettell, Marc Jones, Kevin Buckland, Nick Macfie, Mark Potter, Jan Harvey Organizations: New York Stock Exchange, REUTERS, Nasdaq, U.S, Treasury, PMI, Manulife Investment Management, Dow Jones, Finance, Reuters, Thomson Locations: New York City, U.S, Europe, Boston, New York, London, Tokyo

☆ Stocks just had their worst month of the year as the 'September Effect' set in. These 4 charts tell the story.
▼ + stars: | 2023-10-02 | by ( George Glover | ) www.businessinsider.com time to read: +4 min

Stocks had their worst month of 2023 in September. These four charts sum up a rough month for the market. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The end of the third quarter does tend to be a miserable time for stocks – leading to traders coining the term "September Effect". Higher benchmark oil prices tend to be bad news for inflation gauges, because they have the knock-on effect of driving up the cost of everyday products – especially gasoline.

Persons: Stocks, —, Tesla, Henry Allen, Jerome Powell Organizations: Nasdaq, Service, Dow Jones, Apple, Microsoft, Nvidia, Big Tech, Deutsche Bank, Federal Reserve, Traders, West Texas

☆ Oil prices and the dollar surged in the third quarter. These ETFs can help you reset your portfolio
▼ + stars: | 2023-09-30 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +7 min

.DXY 1Y mountain The dollar index hit new highs for 2023 in September. "Energy equities haven't really kept up with the energy market rally," she added. The latest iShares outlook highlighted the firm's U.S. Energy ETF (IYE) as a way to play higher oil prices. Other major funds in that category include the Energy Select Sector SPDR Fund (XLE) , the Vanguard Energy Index ETF (VDE) and the Fidelity MSCI Energy Index ETF (FENY) . Investors can outsource currency market decisions in the form of managed futures ETFs, which have exposure to currency markets in addition to other asset classes.

Persons: Gargi Chaudhuri, Morgan Stanley, Sasikanth Chilukuru, It's, Chaudhuri, Todd Sohn, Sohn, Andrew Beer, Beer, You've, Anastasia Amoroso, There's, Amoroso Organizations: Texas, BlackRock, iShares, Energy, U.S . Energy, Vanguard Energy, Fidelity MSCI Energy, Wall, U.S ., Invesco DB, Fund, WisdomTree Bloomberg, Investors, Global, Apple, Nvidia Locations: U.S, Saudi Arabia, DBi, Japan

Japanese yen and U.S. dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken June 16, 2022. Meanwhile, a partial government shutdown is looming, which could affect the release of economic data and potentially dent economic growth. The greenback is up 3.54% against the yen this quarter, following an 8.66% gain last quarter. Core inflation in Japan's capital slowed in September for the third straight month mainly on falling fuel costs, data showed on Friday. The British currency is on track for a quarterly loss of 3.85% against the U.S. dollar, the worst performance in a year.

Persons: Florence Lo, ”, Peter Cardillo, Brown Brothers Harriman, “ We’re, Janet Yellen, Sterling, Karen Brettell, Amanda Cooper, Stephen Culp, David Holmes, Nick Zieminski Organizations: U.S, REUTERS, Spartan Capital Securities, Federal Reserve, Brown Brothers, Republicans, U.S . House, Treasury, U.S ., Thomson Locations: New York, U.S, London

☆ Global stock index gains while Treasury yields, dollar dip after inflation data
▼ + stars: | 2023-09-29 | by ( Sinéad Carew | ) www.reuters.com time to read: +4 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. "The big fear has been that we may not be at peak interest rates and that we may still be grappling with inflation. "The result is that interest rates are down across the U.S. Treasury yield curve. U.S. Treasury yields slid after the inflation reading with benchmark 10-year notes down 7.1 basis points to 4.526%, from 4.597% late on Thursday. Earlier it had ticked higher with help from the retreating dollar and Treasury yields after the inflation data, but bullion was still on track for monthly and quarterly declines on prospects of higher U.S. interest rates.

Persons: Brendan McDermid, Brian Levitt, Sterling, Brent, Sinéad Carew, Naomi Rovnick, Ankur Banerjee, Alexander Smith, Anil D'Silva, Barbara Lewis, Andrew Heavens Organizations: New York Stock Exchange, REUTERS, Treasury, Federal, U.S, Traders, Dow Jones, Nasdaq, Thomson Locations: New York City, U.S, Europe, United, China, New York, London, Singapore

☆ US dollar share of global currency reserves stays flat in second quarter, IMF says
▼ + stars: | 2023-09-29 | by ( Gertrude Chavez-Dreyfuss | ) www.reuters.com time to read: +3 min

Claims in U.S. dollars rose 0.8% to $6.576 trillion in the second quarter, but were down 1% from a year earlier. The euro's share edged up slightly to 19.9% in the second quarter, from 19.8% the previous three months. The dollar index was up 3.1% in the second quarter, recovering from a 0.9% fall in the first quarter. The IMF data also showed the Chinese renminbi's share of currency reserves slipped to 2.4% in the second quarter from about 2.6% in the first. IMF data also showed total global reserves rose to $12.055 trillion in the second quarter from $12.028 trillion in the first quarter.

Persons: Michael Langham, Langham, Gertrude Chavez, Dreyfuss, David Gregorio, Chris Reese Organizations: International Monetary Fund, Canadian, Global, IMF, Thomson Locations: U.S

☆ Dollar shines as oil surge spooks investors
▼ + stars: | 2023-09-28 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 29, 2023. U.S. crude rose 3.6% overnight and another 1% on Thursday to hit $95 a barrel for the first time since August 2022. "The rise in oil increased the upward pressure on bond yields (and) the combo of higher oil, higher yields, and a higher greenback tends not to augur well for equities." It is down more than 3% in September to eye its largest monthly fall on the dollar since April 2022. Shares in indebted developer China Evergrande (3333.HK) were suspended after a report that its chairman was placed under police surveillance.

Persons: Brendan McDermid, Brent, Kyle Rodda, HSI, Gold, Muralikumar Organizations: New York Stock Exchange, REUTERS, Japan's Nikkei, HK, Thomson Locations: New York City, U.S, Hong Kong SINGAPORE, Cushing , Oklahoma, Asia, Pacific, Japan, China, .

☆ Morning Bid: Dollar glimmers in broad market gloom
▼ + stars: | 2023-09-28 | by ( ) www.reuters.com time to read: +2 min

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, September 27, 2023. REUTERS/Staff/file photo Acquire Licensing RightsA look at the day ahead in European and global markets from Tom WestbrookGerman and Spanish inflation data and European consumer confidence data due today seem unlikely to pierce the gloom that's enveloped markets in recent days. Oil's spike to one-year highs has poured fuel on selling in the bond market and further pumped up the dollar, while global stocks have dropped for nine sessions in a row. There's still no intervention from Japan, although moves in the pair are so tentative that it's clear traders are jittery. In addition to the day's data, Fed Chair Jerome Powell's comments will be a focus for markets when he speaks at 2000 GMT.

Persons: Tom Westbrook, Donald Trump, There's, Jerome Powell's, Jerome Powell, Edmund Klamann Organizations: REUTERS, Staff, Capitol, Republican, HK, Nikkei, Thomson Locations: Frankfurt, Germany, loggerheads, U.S, China, China's, Stocks, Asia, Japan, prelim

☆ Morning Bid: Oil spike delivers coup de grace to dire Q3
▼ + stars: | 2023-09-28 | by ( ) www.reuters.com time to read: +5 min

A nighttime view of the Torrance Refinery, an oil refinery operated by PBF Energy, in Torrance, California, U.S., March 10, 2022. The U.S. Treasury completes more than $130 billion of new debt sales this week with another 7-year note auction later on Thursday. But even though the euro bounced back from 2023 lows today, there was better news on the inflation front from Europe. As China's markets headed for the Golden Week holidays next week, stocks there were in the red too - with Hong Kong's Hang Seng (.HSI) hitting its lowest for the year so far. * U.S. Treasury auctions 7-year notes, 4-week bills* U.S. corporate earnings: Nike, Accenture, CarmaxReuters GraphicsReuters GraphicsReuters GraphicsReuters GraphicsReuters GraphicsReuters GraphicsEditing by Emelia Sithole-MatariseOur Standards: The Thomson Reuters Trust Principles.

Persons: Bing Guan, Mike Dolan, Jerome Powell, it's, Lisa Cook, Austan Goolsbee, Thomas Barkin, Emelia Sithole Organizations: Torrance Refinery, PBF Energy, REUTERS, Federal, U.S, Treasury, U.S . Treasury, Micron Technology, Nvidia, Kansas, Fed, Chicago Fed, Richmond Fed, Nike, Accenture, Carmax Reuters Graphics Reuters, Reuters, Thomson Locations: Torrance, Torrance , California, U.S, Washington, United States, Europe

☆ Dollar sticks near 10-month high, keeping heat on yen
▼ + stars: | 2023-09-28 | by ( Brigid Riley | ) www.reuters.com time to read: +3 min

U.S. dollar banknotes are seen in this illustration taken March 10, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsTOKYO, Sept 28 (Reuters) - The dollar clung near a 10-month high against a basket of its peers on Thursday, keeping the yen under pressure near a key intervention zone as investors size up upbeat U.S. economic data and fresh comments from Federal Reserve officials. Fed Chair Jerome Powell is scheduled to speak later on Thursday, giving markets further clues into the future path of U.S. monetary policy. The U.S. dollar index , which measures the greenback against a basket of other major currencies, hovered around 106.58, after hitting 106.84 overnight, the highest level since Nov. 30. The dollar/yen pair tends to be extremely sensitive to changes in long-term U.S. Treasury yields, particularly at the 10-year maturity.

Persons: Dado Ruvic, Neel Kashkari, Jerome Powell, Kyle Rodda, Tony Sycamore, Brigid Riley, Shri Navaratnam Organizations: REUTERS, Rights, Federal Reserve, Federal Reserve Bank of Minneapolis, Fed, U.S, Treasury, IG, Thomson Locations: U.S

☆ Asia stocks mixed as investors grapple with higher rates
▼ + stars: | 2023-09-27 | by ( Julie Zhu | ) www.reuters.com time to read: +4 min

REUTERS/Issei Kato/File photo Acquire Licensing RightsHONG KONG, Sept 27 (Reuters) - Asia stocks traded mixed on Wednesday and benchmark U.S. Treasury yields were near multi-year highs, as investors sour on both stocks and bonds amid worries about the impact of higher-for-longer interest rates. The Japanese yen remained weak versus the greenback at 149.06 per dollar. Higher U.S. Treasury yields and recent dovish comments from Bank of Japan (BoJ) officials have weighed on USD/JPY," CBA analysts said in a note. In treasuries, benchmark 10-year Treasury yields have climbed to 16-year highs in the wake of the Federal Reserve's hawkish longer-term rate outlook last week. The two-year yield , which rises with traders' expectations of higher Fed fund rates, touched 5.0603% compared with a U.S. close of 5.077%.

Persons: Issei Kato, Dow, Shunichi Suzuki, Brent, Jamie Freed Organizations: U.S, REUTERS, Treasury, Bank, Japan's Nikkei, Federal Reserve, Dow Jones, Nasdaq, Finance, Higher U.S, Bank of Japan, CBA, Thomson Locations: Tokyo, Japan, HONG KONG, Asia, Australia, Thailand, Pacific

☆ Dollar rides Treasury yields higher, yen battered
▼ + stars: | 2023-09-27 | by ( ) www.cnbc.com time to read: +3 min

The dollar traded near a 10-month high against its major peers on Wednesday as Treasury yields stayed elevated on the prospect of higher-for-longer U.S. rates, while the yen stumbled towards a closely-watched intervention zone. "The U.S. dollar is stickier to the upside than the downside," said Tina Teng, market analyst at CMC Markets. The elevated U.S. yields have spelt trouble for the yen , which edged marginally higher to 149.01 per dollar, after having slipped to a 11-month low of 149.185 on Tuesday. The dollar/yen pair tends to be extremely sensitive to changes in long-term U.S. Treasury yields, particularly on the 10-year front. "Even if there were intervention, it won't drive dollar/yen down permanently unless bond yields start to retreat in earnest too."

Persons: Sterling, Tina Teng, Alvin Tan Organizations: National Printing Bureau, Treasury, U.S, CMC Markets, Fed, Asia FX, RBC Capital Markets, New Zealand Locations: National Printing Bureau Tokyo, Tokyo, Japan, Asia, Tuesday's

☆ The US dollar and Argentine peso could exist side by side, says rival to presidential frontrunner Milei
▼ + stars: | 2023-09-26 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Argentine presidential candidate Patricia Bullrich wants both the dollar and peso to be official currencies. This represents a different take versus full dollarization, a policy advocated by frontrunner Javier Milei. "The peso and the dollar will coexist," Carlos Melconian, her chief economic advisor, said at the Bloomberg Economic Summit in Buenos Aires. "There will be a complementary exchange rate regime that will be step by step, and will take inflation into account." "There is going to be very severe and prudent macroeconomic policy in Argentina," Melconian said, according to Bloomberg.

Persons: Patricia Bullrich, Javier Milei, Bullrich, —, Milei, Carlos Melconian, Melconian Organizations: Argentine, Service, US greenback, Bloomberg Economic Summit, Bloomberg Locations: Buenos Aires, Argentina

[1/3] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 20, 2023. The 30-year bond was last up 11.8 basis points to yield 4.6397%, from 4.522%. The 2-year note was last was down 0.9 basis points to yield 5.1141%, from 5.123%. In currencies, the dollar index rose 0.455%, with the euro down 0.69% to $1.0578.Sterling was last trading at $1.22, down 0.31% on the day. In energy markets, oil prices edged lower in choppy trade on Monday as Russia relaxed its fuel ban, after earlier gains on a tighter supply outlook, while investors eyed elevated interest rates that could curb demand.

Persons: Brendan McDermid, Powell, Austan Goolsbee, Mona Mahajan, Edward Jones, Mahajan, Sterling, Kazuo Ueda, Brent, Sinéad Carew, Amanda Cooper, Stella Qiu, Himani Sarkar, Jacqueline Wong, Miral Fahmy, Mark Heinrich, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, U.S . Federal Reserve, Chicago Fed, Dow Jones, Nasdaq, Bank of Japan, Thomson Locations: New York City, U.S, Russia, New York, London

☆ Canadian dollar edges higher as 10-year yield hits 4%
▼ + stars: | 2023-09-25 | by ( Fergal Smith | ) www.reuters.com time to read: +2 min

A Canadian dollar coin, commonly known as the "Loonie", is pictured in this illustration picture taken in Toronto, January 23, 2015. The loonie was trading 0.1% higher at 1.3470 to the greenback, or 74.24 U.S. cents, after moving in a range of 1.3455 to 1.3491. Among G10 currencies, only the Swedish crown performed better than the Canadian currency, as the U.S. dollar (.DXY) extended its recent gains against a basket of major currencies. Still, speculators have raised their bearish bets on the Canadian dollar to the most since May, data from the U.S. Commodity Futures Trading Commission showed on Friday. The 10-year was up 11.2 basis points at 4.026%, its first move above the 4% threshold since January 2008.

Persons: Mark Blinch, Price, Tony Valente, Fergal Smith, Nick Zieminski Organizations: REUTERS, greenback, U.S, Federal Reserve, Bank of Canada, U.S ., Fed, BoC, U.S . Commodity Futures Trading, Thomson Locations: Toronto, TORONTO, Swedish, Russia, U.S

☆ Gulf stocks mixed amid rate hike woes; Egypt outperforms
▼ + stars: | 2023-09-24 | by ( Shamsuddin Mohd | ) www.reuters.com time to read: +1 min

The Qatari benchmark stock index (.QSI) fell 0.3%, dragged down by almost all the sectors with financials leading the declines. Qatar National Bank (QNBK.QA), the Gulf's biggest lender, was down 0.7% while heavyweight Commercial Bank (COMB.QA) dropped 1.3%. Kuwait's premier market index (.BKP) fell 1.6%, its 7th consecutive session of losses, as most of its constituents were in negative territory. Outside the Gulf, Egypt's blue-chip index (.EGX30), closed up 0.6%, hitting an all-time high. Reporting by Shamsuddin Mohd in Bengaluru; Editing by Emelia Sithole-MatariseOur Standards: The Thomson Reuters Trust Principles.

Persons: Shamsuddin, Emelia Sithole Organizations: Federal, Gulf Cooperation, greenback, Qatar National Bank, Commercial Bank, Chemical Industries, Misr Fertilizer, Stock, UAE bourse, Thomson Locations: Abu, Saudi Arabia, UAE, Bengaluru

Banknotes of Japanese yen and U.S. dollar are seen in this illustration picture taken September 23, 2022. The BOJ held interest rates at -0.1% on Friday and reiterated its pledge to keep supporting the economy until it's confident inflation will stay at the 2% target. "We have yet to foresee inflation stably and sustainably achieve our price target," BOJ Governor Kazuo Ueda said in a press conference. The yen dropped as low as 148.42 to the dollar, nearing the 150-mark at which analysts have said government intervention to prop up the currency is likely. It was on track to eke out a weekly increase of around 0.2%, its 10th rise in as many weeks.

Persons: Florence Lo, Kazuo Ueda, we've, Alvin Tan, Shunichi Suzuki, RBC's Tan, Treasuries, Ray Sharma, Ong, Sterling, BoE, Harry Robertson, Rae Wee, Christopher Cushing, Sonali Paul, Christina Fincher Organizations: U.S, REUTERS, Bank of Japan, Federal Reserve, Asia FX, RBC Capital Markets, Japan's Finance, Ministry, Finance, Bank of England, Thomson Locations: SINGAPORE, France, Asia, Tokyo, London, Singapore

☆ Yen falls after BOJ stands pat on easy policy; dollar elevated
▼ + stars: | 2023-09-22 | by ( Rae Wee | ) 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 yen last bought 148.09 per U.S. dollar. Sterling similarly eked out a 0.3% gain against the Japanese currency to trade at 181.80 yen. "I guess people were expecting the BOJ to leave policy unchanged but perhaps tweak the wording a bit to remove the accommodative stance." The New Zealand dollar edged 0.08% higher to $0.5936 and was eyeing a weekly gain of more than 0.5%.

Persons: Florence Lo, Kazuo Ueda, Sterling, Siong Sim, Shunichi Suzuki, Ray Sharma, Ong, BoE, Daniela Hathorn, Rae Wee, Christopher Cushing Organizations: U.S, REUTERS, Rights, Bank of Japan, Bank of Singapore, Treasury, Federal Reserve, Japan's Finance, New Zealand, Fed, Bank of England, Capital.com, Thomson Locations: Rights SINGAPORE

☆ Japanese yen weakness may force BOJ tightening sooner than expected
▼ + stars: | 2023-09-22 | by ( Clement Tan | ) www.cnbc.com time to read: +4 min

watch nowThe Bank of Japan could be forced into hiking rates sooner than expected, if the Japanese yen weakens beyond 150 to the dollar. The BOJ stands as an outlier as major central banks have hiked rates aggressively to combat burgeoning inflation. Decades of accommodative monetary policy in Japan — even as other global central banks tightened policy in the last 12 months — have concentrated carry trades in the Japanese yen. The Japanese yen slipped about 0.4% to around 148.16 against the dollar on Friday after the BOJ kept its negative rates unchanged, after the yen tested its lowest in almost 10 months at 148.47 per dollar Thursday. While a weaker yen makes Japanese exports cheaper, it also makes imports more expensive, given that most major economies are struggling to contain stubbornly high inflation.

Persons: Bob Michele, Michele, Kazuo Ueda's, Ueda Organizations: Bank of Japan, U.S . Federal Reserve, Morgan Asset Management, CNBC, Afp, Getty, Yomiuri Shimbun Locations: Bank, Japan, Tokyo, Central

Search resuls for: "greenback"

25 mentions found