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Foreign Exchange

Date : 2024-04-30
Time : 10:00:00
Foreign Exchange
  • The yen struggled to hold its line against the dollar on Tuesday after making sharp gains the previous day sparked by suspected intervention by Japanese authorities.
  • The currency inched down 0.30% to 156.79 per dollar but was well off its 34-year low of 160.245 hit on Monday when traders say yen-buying intervention by Tokyo drove a eye-catching rebound of nearly six yen. It briefly popped above 157 earlier in Tuesday's session.
  • Most Asian currencies fell on Tuesday as anticipation of a Federal Reserve meeting this week kept traders largely biased towards the dollar, with the Japanese yen falling slightly after rebounding amid suspected government intervention. 
  • The U.S. dollar fell Monday ahead of the latest Federal Reserve meeting, while the yen soared amid speculation Japanese authorities have been intervening to try and stem its seemingly relentless decline.
  • Most Asian currencies moved little on Monday as markets turned cautious before a Federal Reserve meeting this week, while the Japanese yen rebounded after sinking to new 34-year lows earlier in the day. 

 

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