The yen rose to a three-week high against the dollar on Monday as Federal Reserve Chair Jerome Powell's emphatic dovish shift contrasted sharply with Bank of...
TOKYO - The yen rose to a three-week high against the dollar on Monday as Fed eral Reserve Chair Jerome Powell 's emphatic dovish shift contrasted sharply with Bank of Japan chief Kazuo Ueda 's steadfastly hawkish tone.
Sterling was steady at $1.3215 after jumping as high as $1.32295 on Friday for the first time in 17 months. Over in Asia, BOJ's Ueda, who spoke in parliamentary testimony earlier on Friday, "stuck to the script of the BOJ needing to adjust the degree of easing – central bank-speak for a further increase in the policy rate from a low level – and he played down the significance of the July rate hike on market turmoil," Strickland said.
Traders unanimously expect the Fed to kick off its loosening campaign on Sept. 18, but see 36.5% odds of a super-sized 50-basis point reduction, according to the CME Group's FedWatch Tool. That's up from 25% odds a week earlier. LOS ANGELES — It was fitting that Kiké Hernández would have a great game on an afternoon when former Lakers great Kobe Bryant was honored at Dodger Stadium.The yen rose to a three-week high against the dollar on Monday as Federal Reserve Chair Jerome Powell's emphatic dovish shift contrasted sharply with Bank of Japan chief Kazuo Ueda's steadfastly hawkish tone.
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