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Yen slips ahead of central bank bonanza, dollar firms on tech rebound
The dollar held near a one-week high as a tech-led rebound revived risk appetite, while traders awaited signals from the Bank of Japan.
- On Tuesday, the Japanese yen eased against the US dollar as investors braced for a week of central bank decisions, including the Bank of Japan's two-day meeting concluding Friday.
- Risk appetite returned overnight after Anthropic's IPO filing and Meta's $95 billion equity plan rekindled the artificial intelligence trade, reducing demand for safe-haven currencies like the yen.
- Japan's service-sector inflation rose 3.7% in September, keeping the central bank on track for further hikes, while the European Central Bank is set to hold rates at 2.5% on Thursday.
- Finance Minister Satsuki Katayama warned on Tuesday that the government stands ready to intervene, as the euro fell to $1.1165 amid fiscal concerns in France.
- Corporate earnings reports this week from Alphabet, Microsoft, and Amazon.com will test the broader market narrative and influence sentiment across all asset classes.
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The Economic Times+4 Reposted by 4 other sources
Yen slips ahead of central bank bonanza, dollar firms on tech rebound
Yen vs Dollar : The Japanese yen fell against the US dollar as market sentiment shifted towards risk-taking. Major banks, including the Bank of Japan, are expected to announce monetary policy decisions this week. A rise in Japan's service-sector inflation suggests increasing price pressures that may lead to future interest rate hikes. Concurrently, the euro weakened amid concerns regarding France's fiscal stability and economic health.
·Mumbai, India
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Coverage Details
Total News Sources11
Leaning Left1Leaning Right3Center5Last UpdatedBias Distribution56% Center
Bias Distribution
- 56% of the sources are Center
56% Center
11%
C 56%
R 33%
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