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Tuesday, November 5, 2024

The yen is struggling ahead of the Japanese central bank’s decision and the dollar is taking a breath

The yen is struggling ahead of the Japanese central bank’s decision and the dollar is taking a breath

The Japanese currency suffered a strong blow this month, with the dollar and US Treasury bond yields moving around their highest levels since July.

The yen fell by about 6.3 percent during the month and is on track to record its largest monthly loss against the dollar since November 2016.

The political developments in… Japan Of the yen’s problems and increased uncertainty about the country’s fiscal and monetary policy prospects.

The Bank of Japan is widely expected to maintain its monetary policy on Thursday.

Price movements

to retreat Yen By 0.11 percent to 153.24 against the dollar, a level not far from its lowest level in three months at 153.885 recorded on Monday.

Non-farm payrolls data is expected to be published in US Tomorrow, Friday, a few days before the presidential elections scheduled for next Tuesday.

There was little change in the dollar index, which measures the US currency against six major competing currencies, at 104.09, after it declined the previous day.

It hit its highest level since July 30 at 104.63 on Tuesday.

And he stayed euro It is largely stable at $1.0859. Eurozone inflation and GDP data came stronger than expected yesterday, Wednesday, prompting traders to reduce their bets on a significant cut in interest rates by… European Central Bank In December.

The British pound recorded $1.2957, down 0.03 percent.

The Australian dollar reached $0.65726.

The New Zealand dollar witnessed a slight decline of 0.02 percent to $0.5974.



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