News Formal

Japan markets roiled by Abe resignation news, stocks choppy after Fed shift

  • 📰 YahooSG
  • ⏱ Reading Time:
  • 30 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 71%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

The yen pulled back from a two-week low and rose to 106.36 against the dollar.

TOKYO/WASHINGTON - Japanese financial markets were roiled in afternoon trade on Friday after news that Japanese Prime Minister Shinzo Abe will resign for health reasons later on in the day.

The 10-year U.S. Treasury yield rose to 0.7870%, the highest since June 10, which caused the yield curve to steepen, reflecting the Fed's tolerance for higher inflation. Markets swirled after Fed Chairman Jerome Powell laid out a policy that aims for 2% inflation on average so that too low a pace would be followed by an effort to lift inflation"moderately above 2% for some time."

"But Powell really didn't reveal much beyond that. Some people who were expecting a clearer steer on policy or some kind of cap on bond yields are left disappointed."

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:

 /  🏆 3. in İE
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Japan stocks tumble over 2%, safe-haven yen rallies after reports of PM Abe resigningTOKYO (AFP) - Stocks in Japan plunged more than 2 per cent on Friday (Aug 28) after reports said Japanese Prime Minister Shinzo Abe was set to resign owing to health reasons.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »