Apr 24, 2024 (MENAFN via COMTEX) --
(MENAFN - Your Mind Media ) 23rd April 2024
The Japanes Yen continued to hover with low volatility at its lowest level against the dollar below the 155 mark. Japanese Finance Minister Shunichi Suzuki recently expressed worry about the yen getting weaker and stressed its dangers for the Japanese economy. As a result, Japanese authorities could remain ready to intervene in the currencies market, driving up caution among traders, especially given recent strong US economic data and changing expectations regarding the Federal Reserve's interest rate policy. The yen could experience a return to volatility on Friday as traders react to inflation data and the Bank of Japan's interest rate decision. Japanese bond yields could continue to rise as central bank officials continue to comment on potential rate hikes.
The dollar was under some pressure earlier today, weighed by stronger European PMI data, although it continues to hover near this year's high as strong US economic data and hawkish commentary from Fed officials reinforced market expectations of delayed interest rate cuts. The dollar could face some risks as traders anticipate the release of US GDP data and the PCE price index. Stronger-than-expected data could push the dollar and US yields higher.
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COMTEX_451363469/2604/2024-04-24T18:14:05
