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☆ Exclusive: BOJ plans to exit from easy policy next year but needs some good fortune
▼ + stars: | 2023-11-02 | by ( Leika Kihara | ) www.reuters.com time to read: +6 min

Ueda's intentions are based on interviews with six sources familiar with the BOJ's thinking, including government officials with direct interaction with the bank. "Given uncertainty over the economic outlook, the BOJ probably wants to wait at least until spring next year in normalising policy," said another source. If the yen continues to fall, that could heighten political pressure on the BOJ to exit sooner than it wants, some analysts say. The risk of sharp yen falls and an inflation overshoot may leave the BOJ with less time than it wants to exit. "The BOJ doesn't have much time left, a point governor Ueda is probably mindful of."

Persons: Kazuo Ueda, Ueda, Kuroda, it's, Robert Samson, Ueda hasn't, Hiromi Yamaoka, Leika Kihara, Anisha, Shri Navaratnam Organizations: Japan, Kyodo, REUTERS, Bank of Japan, Nikko Asset Management, Thomson Locations: Tokyo, Japan, BOJ, YCC, TOKYO, U.S, Bengaluru

Bank of Japan Governor Kazuo Ueda attends a press conference after its policy meeting in Tokyo, Japan October 31, 2023, in this photo taken by Kyodo. In addition, interest rate changes were asymmetric — Fed rate hikes following stock market recoveries were usually muted compared with the initial cuts. This was an explicit, open-ended policy to hold the currency at a set level and flood the Swiss economy and markets with oceans of liquidity, but essentially still a central bank put. As Marc Chandler at Bannockburn Global Forex points out, it is financial stability that is ultimately - and rightly - at the heart of the so-called central bank put. "There is a perception or myth that has built up around the central bank put.

Persons: Kazuo Ueda, Alan Greenspan, Louis, William Poole, Greenspan, Steven Englander, Marc Chandler, Chandler, Jonathan Oatis Organizations: Japan, Kyodo, REUTERS Acquire, Rights, Bank of Japan, Federal Reserve, Louis Fed, Swiss National Bank, Standard Chartered, National Bureau of Economic Research, Swiss, Reuters, Bannockburn Global, Thomson Locations: Tokyo, Japan, Rights ORLANDO , Florida, New York, Switzerland, Swiss, Bannockburn

☆ Japan’s Seven-Year Experiment in Extreme Interest-Rate Control Is Coming to an End
▼ + stars: | 2023-10-31 | by ( Megumi Fujikawa | ) www.wsj.com time to read: 1 min

The Bank of Japan acknowledged that inflation in the country is more long-lasting than it had expected. Photo: richard a. brooks/Agence France-Presse/Getty ImagesTOKYO—The Bank of Japan edged closer to a new era in which it ends the unconventional monetary easing it has long pursued, although Gov. Kazuo Ueda wasn’t ready to declare the old era over yet. The central bank said Tuesday that its 1% cap on the 10-year government bond yield would now be considered a reference rather than a hard limit. It sharply raised its price forecast, saying the inflation rate would likely stay near 3% until early 2025.

Persons: richard, Kazuo Ueda wasn’t Organizations: Bank of Japan, Agence France, Getty, The Bank of Japan Locations: TOKYO

☆ BOJ chooses slow path out of zero-rate limbo
▼ + stars: | 2023-10-31 | by ( Peter Thal Larsen | ) www.reuters.com time to read: +4 min

REUTERS/Susana Vera Acquire Licensing RightsHONG KONG, Oct 31 (Reuters Breakingviews) - The Bank of Japan (8301.T) is taking the long road out of zero-interest rate limbo. On the face of it, BOJ Governor Kazuo Ueda and his colleagues made few policy changes at their latest meeting. The short-term interest rate remains negative, while the official yield target for 10-year Japanese government bonds is unchanged at 0%. However, the real challenge for Ueda is when to end the era of negative short-term interest rates. The BOJ’s nine-member board maintained its target for short-term interest rates of -0.1%.

Persons: Kazuo Ueda, Susana Vera, Haruhiko Kuroda, Ueda, “, Antony Currie, Thomas Shum Organizations: Japan, International Monetary Fund, World Bank, REUTERS, Reuters, Bank of Japan, U.S, Thomson Locations: Marrakech, Morocco, HONG KONG, Japan

The people who work the levers of Japan’s economy are in a bind: The country’s low interest rates, which they have long used to goose growth, are now well out of step with other big economies. The yen is at a near-record low against the U.S. dollar, threatening to inflict prolonged inflation on Japan, which for years suffered the opposite problem. On Tuesday, the central bank, the Bank of Japan, tried to thread the needle, announcing a policy that aims to nudge bond yields higher. Decisions by the Bank of Japan, led by Governor Kazuo Ueda, reverberate around the world, especially in American markets. Interest rates in the United States are well above Japan’s — yields on 10-year U.S. Treasury notes briefly pushed above 5 percent in September, a level not seen since 2007.

Persons: Kazuo Ueda Organizations: U.S ., Bank of Japan, Treasury Locations: Japan, Tokyo, reverberate, United States

☆ BOJ likely to lift inflation forecasts, debate tweak to yield cap
▼ + stars: | 2023-10-30 | by ( Leika Kihara | ) www.reuters.com time to read: +3 min

The BOJ sets a target of around 0% for the 10-year yield under YCC. Since then, rising global bond yields and persistent inflation have put the BOJ in a tight spot with the 10-year JGB yield threatening to breach the 1% cap. The 10-year bond yield rose to a fresh decade high of 0.955% on Tuesday. Sources told Reuters last week the BOJ could debate further tweaks to YCC at the Oct. 30-31 meeting to relax its grip on the 10-year yield. The BOJ is widely expected to maintain the 0% target for the 10-year yield and that for short-term rates at -0.1%.

Persons: BOJ, Ueda, Ataru Okumura, Kazuo Ueda, Leika Kihara, Sam Holmes Organizations: Bank of, Nikkei, Nikko Securities, Reuters, Thomson Locations: TOKYO, Bank of Japan, Japan

☆ Bank of Japan policymakers are meeting next week. Here's what you need to know
▼ + stars: | 2023-10-27 | by ( Clement Tan | ) www.cnbc.com time to read: +6 min

Policymakers meet eight times a year to decide on the bank's monetary policy position, updating its economic outlook at every other meeting. At these meetings, the BOJ policymakers decides on its monetary policy position, which then dictates how the central bank taps the money market. To absorb funds, the Japanese central bank issues and sells bills. Here's how the Bank of Japan conducts its monetary policy. "The objective of the Bank's monetary policy is achieving price stability, which is its mission as stipulated by law.

Persons: Javier Ghersi, it's, —, Price, Kazuo Ueda Organizations: Getty Images Bank of Japan, Investors, Bank of Japan, Bank of, of, Japan Society of Monetary Locations: Japan, Tokyo, Bank of Japan

☆ Rising yields may pressure BOJ to consider raising newly set cap
▼ + stars: | 2023-10-23 | by ( Leika Kihara | ) www.reuters.com time to read: +5 min

The BOJ remains a global outlier having maintained ultra-loose monetary stimulus even as major central banks elsewhere rapidly raised interest rates to fight rampant inflation. Meanwhile, rising U.S. bond yields are pulling their Japanese counterparts higher, complicating the BOJ's task of keeping local interest rates low. Among ideas that could be discussed would be to raise the ceiling for the 10-year bond yield beyond 1.0%, or steps that water down the BOJ's commitment to defend a set yield level, the sources said. "If the 10-year JGB yield rises to around 0.9%, the BOJ may need to take action," such as by raising the 1% cap, she added. In a Reuters poll in September, most analysts said they expect the BOJ to abandon YCC by the end of 2024.

Persons: Issei Kato, BOJ, YCC, Kazuo Ueda, Naomi Muguruma, Mitsubishi UFJ, Mitsubishi UFJ Morgan Stanley, Ueda, Leika Kihara, Sam Holmes Organizations: Bank of Japan, REUTERS, Treasury, Nikkei, Mitsubishi, Mitsubishi UFJ Morgan, Mitsubishi UFJ Morgan Stanley Securities, YCC, Thomson Locations: Tokyo, Japan, TOKYO

☆ BOJ to release quarterly report that may offer clues on wages
▼ + stars: | 2023-10-19 | by ( Leika Kihara | ) www.reuters.com time to read: +2 min

TOKYO, Oct 19 (Reuters) - The Bank of Japan will release a regional economic report on Thursday that may offer clues on whether companies across the country will raise wages next year, and help lay the groundwork for phasing out the central bank's massive monetary stimulus. The report, due at 2 p.m. (0500 GMT), will be closely scrutinised by the central bank's nine-member board at its Oct. 30 to 31 policy meeting, which will compile fresh quarterly growth and inflation projections. The report is drawing more attention than usual this time for possible early clues on whether wage hikes will continue next year and broaden out to smaller firms. That would be seen as a key condition for the BOJ to dial back its stimulus, analysts say. The key for policymakers, however, is whether companies keep hiking wages next year, including smaller firms and across regions.

Persons: Kazuo Ueda, Ueda, Rengo, Leika Kihara, Edmund Klamann Organizations: Bank of Japan, NHK, Reuters, Thomson Locations: TOKYO, Japan

A passerby walks past an electric monitor displaying recent movements of various stock prices outside a bank in Tokyo, Japan, March 22, 2023. The U.S. 10-year yield has shot up 35 basis points this week, on track for its biggest weekly rise in over a decade. The 2s/10s yield curve has steepened 27 basis points, which would be the biggest weekly steepening move since March. The 10-year yield rose as high as 4.996%, a level not seen since July 2007. On the economic data front, data are expected to show Japan's annual core inflation rate was 2.7% in September, cooling from 3.1% in August.

Persons: Issei KatoFile, Jamie McGeever, Kazuo Ueda, Jerome Powell, Ueda, Josie Kao Organizations: REUTERS, Bank of Japan, People's Bank of, Federal, Netflix, Thomson, Reuters Locations: Tokyo, Japan, Treasuries, Malaysia, Hong Kong, China, People's Bank of China, Asia, U.S, Hill, East

☆ Israel and Hamas at war: Latest news
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +5 min

The United Nations World Food Programme said crucial supplies were running dangerously low in Gaza after Israel imposed a total blockade. * When Israel called up its reservists and declared war this week, the response was swift and overwhelming. [1/6]Israeli soldiers patrol following a mass-infiltration by Hamas gunmen from the Gaza Strip, in Sderot, in southern Israel, October 11, 2023. * What are global firms with a presence in Israel doing after the Hamas attack? * Israel has raised $200 million in diaspora bonds since the war with Hamas began, Israel Bonds said.

Persons: Antony Blinken, Kan, East Jerusalem's, Israel, Mahmoud Abbas, Violeta Santos Moura, Donald Trump, Netanyahu, Tayyip Erdogan, Wang Yi, Mohammed Deif, upends, Kazuo Ueda, Israel Bonds, Kristalina Georgieva, Stephen Farrell, Lisa Shumaker Organizations: Hamas, United Nations, Food Programme, West Bank, Rights Watch, Britain, Royal Navy, REUTERS, White, Republican, Bank of Japan, * Airlines, Monetary Fund, Thomson Locations: Gaza, Washington, Israel, East, East Jerusalem's Al, Aqsa, Lebanon, Egypt, Sinai, Sderot, Palestinian, Paris, Israeli, Jerusalem, Saudi, Lincoln

☆ Japan tells G20 it may need to act in FX market
▼ + stars: | 2023-10-13 | by ( Leika Kihara | ) www.reuters.com time to read: +3 min

The remarks came as the yen renewed its declines against the dollar, and underscored Tokyo's resolve to keep markets on edge over the chance of exchange-rate intervention to prop up the Japanese currency. "I told the G20 meeting we need to be mindful of the risk that market volatility could heighten, including in the currency market, as monetary tightening continues globally," Suzuki told a news conference after attending a meeting of Group of 20 (G20) finance ministers and central bank governors. "I also said excess volatility in the currency market was undesirable, and that we may need to take appropriate action depending on developments," Suzuki said. The official said Tokyo stood ready to act in the currency market if market moves become too volatile. Japan last intervened in the currency market to prop up the yen in September and October last year.

Persons: Shunichi Suzuki, Susana Vera, Suzuki, Kazuo Ueda, Leika Kihara, Cynthia Osterman, David Gregorio, Marguerita Choy Organizations: International Monetary Fund, World Bank, REUTERS, Japanese Finance, . Federal Reserve, Bank of Japan, Group, Thomson Locations: Marrakech, Morocco, Tokyo, MARRAKECH, Japan

☆ Israel and Hamas at war: Latest News
▼ + stars: | 2023-10-12 | by ( ) www.reuters.com time to read: +8 min

Scores of Israeli and foreign hostages were taken back to Gaza; Israel says it has identified 97 of them. [1/6]Israeli soldiers patrol following a mass-infiltration by Hamas gunmen from the Gaza Strip, in Sderot, in southern Israel, October 11, 2023. * The war falls under a complex international system of justice that has emerged since World War Two. * International airlines have suspended hundreds of flights to and from Tel Aviv following the attack by Hamas militants on Israel. * Israel has raised $200 million in diaspora bonds since the war with Hamas began, Israel Bonds said.

Persons: Israel, Antony Blinken, Kan, Mahmoud Abbas, Wafa, Donald Trump, Netanyahu, Tayyip Erdogan, Violeta Santos Moura, Wang Yi, Mohammed Deif, upends, Kazuo Ueda, Frida, Israel Bonds, Kristalina Georgieva, Georgieva, Stephen Farrell Organizations: United Nations, Food, Palestinian, El Al Airlines, Britain, Royal Navy, U.S, REUTERS, Bank of Japan, * Airlines, Carriers, Dutch KLM, Air France, U.S . State Department, Cyprus Airways, Hamas, Monetary Fund, Thomson Locations: Gaza, Washington, Israel, Egypt, Sinai, United States, Asia, Israeli, Palestinian, Sderot, Paris, Jerusalem, Saudi, Europe, Larnaca, Tel Aviv

☆ Japan to chair G7 finance ministers meeting at IMF conference on Oct 12
▼ + stars: | 2023-10-10 | by ( Tetsushi Kajimoto | ) www.reuters.com time to read: +1 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. Shuji Kajiyama/Pool via REUTERS/File Photo Acquire Licensing RightsTOKYO, Oct 10 (Reuters) - Japan will chair a meeting of finance ministers and central bank governors from the Group of Seven (G7) advanced nations on Oct. 12 to discuss the war in Ukraine and the world economy, Finance Minister Shunichi Suzuki said on Tuesday. The G7 meeting will be part of a broader Group of 20 gathering, Suzuki told reporters that will be held on the sidelines of the annual International Monetary Fund conference in the Moroccan city of Marrakech. The G7 meeting will also include roundtable talks with African nations to facilitate flows of private-sector funds to the continent, Suzuki said. Reporting by Tetsushi Kajimoto; Editing by Christian Schmollinger and Miral FahmyOur Standards: The Thomson Reuters Trust Principles.

Persons: Shunichi Suzuki, Shuji, Suzuki, Kazuo Ueda, Tetsushi Kajimoto, Christian Schmollinger Organizations: Toki, Rights, Finance, International Monetary Fund, Marrakech . Bank of Japan, Thomson Locations: Niigata, Japan, Ukraine, Moroccan, Marrakech

☆ Japan’s inertia leaves yen at the mercy of the Fed
▼ + stars: | 2023-10-05 | by ( Francesco Guerrera | ) www.reuters.com time to read: +4 min

A man looks at an electric monitor displaying the Japanese yen exchange rate against the U.S. dollar and Nikkei share average outside a brokerage in Tokyo, Japan October 4, 2023. The debate, though, ignores the bigger issue: Surging U.S. bond yields and Japan’s ultra-low interest rates, though, will keep the yen under pressure. Until it tightens monetary policy, Japan will have to live with an exchange rate driven by Washington. Until Tokyo regains control of its monetary levers, it will have to live with a foreign exchange rate driven by U.S. whims. The greenback then fell back to as low as 147.30, sparking speculation that Japanese monetary officials had intervened to prop up the currency.

Persons: Issei Kato, Kazuo Ueda, Ueda, Antony Currie, Oliver Taslic Organizations: U.S ., Nikkei, REUTERS, Reuters, Bank of Japan, Reuters Graphics, Federal Reserve, Bank of, Thomson Locations: Tokyo, Japan, Washington

☆ BOJ discussed factors for exiting easy policy at Sept meeting; 10-yr JGBs falter
▼ + stars: | 2023-10-02 | by ( Leika Kihara | ) www.reuters.com time to read: +4 min

FILE PHOTO: Japanese national flag is hoisted atop the headquarters of Bank of Japan in Tokyo, Japan September 20, 2023. Under yield curve control (YCC), the BOJ guides short-term interest rates at -0.1% and the 10-year bond yield around zero. A Reuters poll in September forecast that the central bank will end its negative interest rate policy some time next year and YCC by end of 2024. “Even if the BOJ were to terminate its negative interest rate policy, this can be considered as continuation of monetary easing if real interest rates remain negative. But he has also said the BOJ will consider an exit when sustained, stable achievement of its price target is in sight.

Persons: Issei Kato, Kazuo Ueda’s, Governor Ueda, Ueda Organizations: Bank of Japan, REUTERS, Reuters, Bank Locations: TOKYO, Tokyo, Japan, YCC

☆ BOJ increases Wednesday's bond purchase as 10-year JGB yields hit decade peak
▼ + stars: | 2023-10-02 | by ( Clement Tan | ) www.cnbc.com time to read: +2 min

A pedestrian walks past the Bank of Japan (BoJ) building in central Tokyo on July 28, 2023. Richard A. Brooks | Afp | Getty ImagesThe Bank of Japan announced it's increasing its bond purchases at Wednesday's auction, as a spike in government bond yields tests its resolve to defend its yield curve control policy. Yields on 10-year Japanese government bonds hit as much as 0.775% Monday, its highest since September 2013 and nearing the BOJ's hard 1% cap. The Japanese yen shed nearly 0.3% to about 149.73 yen against the dollar, nearing the 150 yen level that prompted BOJ intervention last year. Hawkish comments in the minutes of a lively BOJ September policy meeting released earlier Monday reignited expectations the BOJ is slowly laying the groundwork for the end to negative interest rates.

Persons: Richard A, Brooks, it's, BOJ, Hawkish, Kazuo Ueda's, Ueda's Organizations: Bank of Japan, Afp, Getty, of Japan Locations: Tokyo

☆ BOJ dispels view risk of loss will impede easy-policy exit
▼ + stars: | 2023-09-30 | by ( Leika Kihara | ) www.reuters.com time to read: +3 min

Bank of Japan Governor Kazuo Ueda speaks at a group interview with media in Tokyo, Japan, May 25, 2023. "The objective of the Bank's monetary policy is achieving price stability, which is its mission as stipulated by law. "A central bank's ability to conduct monetary policy is not impaired by a temporary decrease in its profits and capital, provided that it conducts appropriate monetary policy," he said. Some academics have warned the BOJ's huge balance sheet will make an exit from ultra-loose policy difficult by exposing it to massive losses that could put its credibility on the line. But he has also said the BOJ will consider an exit when sustained, stable achievement of its price target is in sight.

Persons: Kazuo Ueda, Kim Kyung, Ueda, Haruhiko, Leika Kihara, William Mallard, Sonali Paul, Michael Perry Organizations: Japan, REUTERS, Bank of Japan, Japan Society of Monetary, Thomson Locations: Tokyo, Japan, TOKYO

A woman looks at items at a shop in Tokyo, Japan, March 24, 2023. The Tokyo core consumer price index (CPI), which excludes volatile fresh food but includes fuel costs, rose 2.5% in September from a year earlier, against a median market forecast for a 2.6% gain. It slowed from a 2.8% increase in August but exceeded the Bank of Japan's 2% target for the 16th straight month. Analysts expect inflation to keep slowing in coming months reflecting recent declines in commodity prices and the base effect of last year's sharp rises. The inflation overshoot led the BOJ to make modest tweaks to its bond yield control policy last month, a move investors saw as a shift away from decades of ultra-loose monetary policy.

Persons: Androniki, Kazuo Ueda, Leika Kihara, Sam Holmes Organizations: REUTERS, Bank of Japan's, Thomson Locations: Tokyo, Japan, TOKYO

☆ Yen intervention a hard sell even as 150 to the dollar 'red line' beckons
▼ + stars: | 2023-09-29 | by ( Kevin Buckland | ) www.reuters.com time to read: +6 min

But, Japanese authorities could find propping up their currency both difficult to achieve and hard to justify. To make even a ripple in the $5 trillion currency market, the BOJ would need to draw down massive amounts of dollar reserves. Wakabayashi, like many other analysts and investors, considers the 150 yen per dollar level a red line for currency intervention, not least because of its significance as a symbol of climbing costs of living from imported food and fuel. INTERVENTION IMMINENTThe yen careened to a 32-year trough at 151.94 last October before being reined in by several bouts of heavy intervention, the first by Japanese authorities in a generation. Measures of expected market volatility remain subdued.

Persons: Kim Kyung, Bank of Japan's hesitancy, Kazuo Ueda, You've, they're, Bart Wakabayashi, Fumio Kishida, Shunichi Suzuki, Masayuki Kichikawa, Ray Attrill, Janet Yellen, Aninda Mitra, Mitra, Kevin Buckland, Alun John, Vidya Ranganathan, Simon Cameron, Moore Organizations: National Printing Bureau, Bank of Japan, REUTERS, Rights, Bank of Japan's, U.S . Federal Reserve, U.S, Treasury, Fed, State Street Bank, Trust, Finance, Sumitomo Mitsui DS Asset Management, Ministry of Finance, National Australia Bank, BNY Mellon Investment Management, Thomson Locations: Tokyo, Japan, U.S, Washington, Asia, London

☆ BOJ's July debate highlights rift in view on rate hike timing
▼ + stars: | 2023-09-27 | by ( Leika Kihara | ) www.reuters.com time to read: +4 min

Japanese national flag is hoisted atop the headquarters of Bank of Japan in Tokyo, Japan September 20, 2023. One member said there was "still a significantly long way to go" before the BOJ can revise its negative interest rate policy, the minutes showed. One member said inflation could overshoot expectations as a tight job market prod firms to hike pay. But the BOJ has maintained its dovish guidance on the view a premature exit from ultra-loose policy could hurt a fragile recovery, and push Japan back into economic stagnation. Reporting by Leika Kihara; Editing by Jacqueline Wong and Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

Persons: Issei Kato, Kazuo Ueda, Ueda, Leika Kihara, Jacqueline Wong Organizations: Bank of Japan, REUTERS, Companies, Thomson Locations: Tokyo, Japan, Europe, TOKYO, United States

☆ CNBC Daily Open: Has the BOJ been ambiguous in its communication?
▼ + stars: | 2023-09-26 | by ( Clement Tan | ) www.cnbc.com time to read: +4 min

Javier Ghersi | Moment | Getty ImagesThis report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Korea's Kospi slumped 1.2% to multi-month lows, while the Hang Seng Index slipped 0.9% to lows last seen in August. [PRO] Luxury playsBank of America upgraded three luxury stocks that are bucking the negative trends afflicting the broader sector in Europe. Is his professorial tendency to think aloud and entertain various scenarios getting in the way of clearer market communication?

Persons: Javier Ghersi, Korea's Kospi, Bob Smith, Dave Limp, Smith, Kazuo Ueda, Ueda, Stanley Fischer, bank's Organizations: CNBC, Treasury, Amazon, Blue Origin, European, Coy, Huawei, Luxury, Bank of America, Bank, Japan, Yomiuri Shimbun, Massachusetts Institute of Technology, Reading Locations: Japan, Asia, Europe, Osaka

[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

☆ Yen falls to fresh 11-month low against dollar, focus on intervention risks
▼ + stars: | 2023-09-25 | by ( Joice Alves | ) 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. REUTERS/Florence Lo/Illustration/File Photo Acquire Licensing RightsLONDON, Sept 25 (Reuters) - The dollar rose against the yen to an almost 11-month high on Monday following last week's gains, keeping traders focused on Japan intervention risks. The Japanese currency remained within striking distance of 150, a level which some market watchers saw as a line in the sand that would spur forex intervention from Japanese authorities similar to that of last year. A yen overshooting would be seen by many as a catalyst for renewed interventions to strengthen the Japanese currency, similarly to last year, she added. EURO FACES GROWTH FEARSThe euro edged 0.1% lower to $1.0633, moving towards a six-month low of $1.0615 touched on Friday against a stronger dollar.

Persons: Florence Lo, Kazuo Ueda, Esther Reichelt, Nick Rees, we've, Reichelt, Francois Villeroy de Galhau, Sterling, Joice Alves, Alun John, Ed Osmond, Bernadette Baum Organizations: U.S, REUTERS, Commerzbank, Federal Reserve, FX, Monex, SBB, European Central Bank, Bank, Thomson Locations: Japan, Swedish, Monex Europe, London

☆ Shares drop as 'higher-for-longer' rate outlook rattles investors
▼ + stars: | 2023-09-25 | by ( Amanda Cooper | ) www.reuters.com time to read: +5 min

[1/2] The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, September 22, 2023. The MSCI All-World index (.MIWD00000PUS), which is heading for its worst monthly performance this year, with a 3.6% drop, was down 0.2% on the day. U.S. 10-year Treasury yields have nudged at 4.5% for the first time since October 2007, and on Monday were up 5 basis points at 4.491%, set for their largest monthly rise in a year, reflecting investor unease over the economic outlook. The dollar index got a boost from the rise in Treasury yields, rising 0.1% on the day. Brent crude futures rose 0.2% to $93.48 a barrel, while West Texas Intermediate rose 0.1% to $90.16.

Persons: Jerome Powell, Frederik Ducrozet, Ducrozet, Powell, Evergrande, Andrew Lilley, Kazuo Ueda, Stella Qiu, Himani Sarkar, Jacqueline Wong, Miral Fahmy, Mark Heinrich Our Organizations: REUTERS, Staff, Global, European Central Bank, Bank of England, Federal Reserve, Treasury, Pictet Wealth Management, Nasdaq, Barrenjoey, Bank of Japan, Brent, West Texas, Thomson Locations: Frankfurt, Germany, U.S, Europe, CHINA

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