Yen Wipes Out Friday’s Gain as Market Focus Returns to Yield Gap

📆 5/6/2024 8:19 AM
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(Bloomberg) -- The yen extended losses, unwinding its sharp rebound on Friday, as traders shifted their focus back to Japan’s interest-rate outlook. Most...

-- The yen extended losses, unwinding its sharp rebound on Friday, as traders shifted their focus back to Japan’s interest-rate outlook.Xi Begins Europe Tour in Paris as Macron Seeks to Reset Ties

To stem yen losses, the Ministry of Finance has probably bought the currency twice in late April and early May, spending about ¥9 trillion in total, according to Bloomberg calculations. The yen still remains the worst performing major currency so far this year with a loss of more than 8% against the dollar.

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Yen Wipes Out Friday’s Gain as Market Focus Returns to Yield GapThe yen extended losses, unwinding its sharp rebound on Friday, as traders shifted their focus back to Japan’s interest-rate outlook.
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