US EditionAsian shares mostly dip as the yen rises against the U.S. dollar
Japanese yen rose sharply on intervention signals from Tokyo and Washington, causing Nikkei to drop 1.8% and triggering a 6.4% jump in silver prices, analysts said.
- On Monday, Japan's Nikkei 225 fell 1.9% to 52,812.45 as Asian shares mostly declined with Tokyo's slide weighing on the region.
- Officials in Japan and the U.S. indicated readiness to intervene, while Atsushi Mimura, Japan's top currency chief, said authorities would act in close coordination with Washington.
- Traders sought havens, boosting precious metals as gold rose 2% to nearly $5,100 and silver jumped 6.4%, while selling hit big exporters such as Toyota Motor Corp.
- The dollar's softness fed moves in Asian currencies, lifting the Malaysian ringgit and South Korean won while S&P 500 futures fell about 0.2%.
- This week the Fed's Jan. 27-28 policy meeting is the main event, with markets expecting officials to largely stand pat, shaping FX and bond responses including JGBs and Treasuries.
63 Articles
63 Articles
Dollar slides to 4-month low on efforts to boost the yen, which could spell trouble for U.S. equities
The U.S. dollar took another hit on Monday, weakening to its lowest levels in four months, as talk of a coordinated intervention to prop up the competing Japanese yen intensified. Article Attribution | Read More at Article Source The post Dollar slides to 4-month low on efforts to boost the yen, which could spell trouble for U.S. equities appeared first on RocketNews.
Dollar Weakens Across the Board as Yen Climbs on Intervention Risk
The U.S. dollar fell across the board and the Japanese yen jumped to a more than two-month high on Monday as speculation mounted about joint U.S.-Japan currency intervention after remarks from Tokyo’s prime minister and Japan’s leading currency diplomat. Investors also scaled back their dollar positions ahead of a Federal Reserve meeting and a possible announcement by the Trump administration of a new Fed chair. Worries about another U.S. govern…
Asian currencies soar as dollar weakens with yen intervention in focus
BENGALURU — The Malaysian ringgit and the Singapore dollar climbed to multi-year highs on Monday as a broadly weaker US dollar and renewed gains in the Japanese yen lifted Asian currencies, with investors remaining on high alert for possible intervention to support the yen.
The last days have been an accelerated course of tension for the debt markets. Japanese bonds to 40 years have reached above 4.2% of profitability this week, the highest level since their creation in 2007. According to Afonso Borges, a fixed income analyst at Julius Baer, Japanese bonds are absorbing record flows this month, while those of the US Treasury have remained stable.That mismatch in the movement of the two countries "is behind the tens…
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