Forex Trade Time

Dollar hits new 34-year peak against yen on higher US rate outlook :

Dollar



The #usadollar hit a fresh 34-year high against the yen in subdued trade on Monday, with #market participants taking their cue from the #FederalReserve’s higher-for-longer interest rate stance, even as they remained alert to any signs of intervention by Japanese authorities to prop up the struggling #yen.

The #dollar hit a fresh 34-year high of 154.85 yen versus #theJapanese #currency and was last up 0.1% at 154.81 yen, a whisker away from the 155-level that is next on traders’ radars for possible intervention.

The #yen hit its fresh lows ahead of the Bank of Japan’s (#BOJ) policy review on Friday.

#Market players have been largely aware that Japan has refrained from intervening in the market despite the yen hitting several 34-year lows this year.

“I think that the MOF (Ministry of Finance) has acknowledged that the currency fundamentals have been moving in the wrong direction, i.e. dollar yen has been going higher because U.S. yields have been going so much higher,” said Calvin Tse, managing director and head of Americas macro strategy at BNP Paribas (OTC:BNPQY) in New York.

“I think they’ve been very wary to stand in the way of that. However, if we see an environment where let’s say U.S. yields start to weaken … then that provides them at least in their (MOF) minds with a window of opportunity to act. So long story short, I don’t think they will be intervening if the … driver of dollar yen higher is higher U.S. yields,” he added.

.

.
#everyday_information #forex #option #Binary_Option #trading #trader #goldstocks #forextrader #fx_trade_time #fxttime #USDollar #euro #JPY #GBP #chfcurrency
#dubai #UAENews #ksasaudiarabia #Syrian #iraq #kuwait #jordan #morocco #Libya #tunisia #algerian #Egypt #qatar #lebanon
#كل_يوم_معلومه #فوركس #خيارات_ثنائيه #تداول_عملات #بورصه #ذهب #فوركس_تريد_تايم #اف_اكس_تريد_تايم #دولار #يورو
#دبي #امارات #السعوديه #سوريا #العراق #الكويت #الاردن #المغرب #ليبيا #تونس #الجزائر #مصر #قطر #لبنان
.
www.fxttime.com/trade

Leave a Comment

Your email address will not be published. Required fields are marked *