Yen hits 24-year low, 140 level beckons as hike bets buoy dollar - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

  • 📰 SABCNews
  • ⏱ Reading Time:
  • 20 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 51%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

The dollar rose broadly on Thursday, particularly against the yen, as investors braced for higher US interest rates while expecting anchored Japanese rates to go nowhere anytime soon.

The greenback hit a 24-year high of 139.59 against the yen in early Asia trade, a gain of about 0.5% on the previous day’s close.

“So long as expectations for the peak in the Fed funds rate keep ratcheting higher while the Bank of Japan remains on hold, dollar/yen will be a buy on dips. Anywhere in the low 140s now looks plausible.” Euro zone inflation rose to a record high at 9.1% in August, data released on Wednesday showed, solidifying the case for further big European Central Bank rate hikes to tame inflation.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 37. in CA

Canada Canada Latest News, Canada Canada Headlines