The Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
March 20 - The U.S. dollar edged up while the yen hit a fresh multi-month low versus the greenback on Wednesday ahead of a Federal Reserve policy meeting and after the Bank of Japan raised interest rates for the first time in 17 years.
Barclays and BofA recently flagged so-called"intervention levels" from 152 to 155 yen to the dollar. BofA said that the U.S. dollar had not reached 152 yen since 1990, after failing to break that level in October 2022 and November 2023. "If we are incorrect on that , then the forex could get interesting as a hawkish communication could see Tokyo's resolve over limiting yen depreciation being tested," said Derek Halpenny, strategist at MUFG Bank.
"The BOJ decided for a dovish exit from its negative rates policy. They raised rates but for now they are staying there. Meanwhile they will continue buying the same amount of bonds," BofA's Vamvakidis said. The dollar index , which measures the U.S. currency against six rivals, was up 0.23% at 104.15, a fresh 3-week high.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Morning bid: Yen hurtles toward historic low, Fed in focusThe central bank policy party rolls on into Wednesday with China and Indonesia under the spotlight in Asia ahead of the main event in Washington later in the...
Read more »
Morning bid: Yen hurtles toward historic low, Fed in focusThe central bank policy party rolls on into Wednesday with China and Indonesia under the spotlight in Asia ahead of the main event in Washington later in the...
Read more »
Yen flounders near four month low, Fed in spotlightThe yen languished near a four-month low against the U.S. dollar and a 16-year trough against the euro on Wednesday, a day after the Bank of Japan's widely...
Read more »
Asia stocks shaky ahead of Fed, yen hits 4-month lowAsian shares were hesitant on Wednesday on concerns the Federal Reserve could signal a slower path of rate cuts this year, while the yen plumbed a fresh four...
Read more »
Yen Is Vulnerable to Fed After BOJ Keeps Traders Guessing on More HikesThe yen is at risk of sliding back to three-decade lows against the dollar after the Bank of Japan ended negative interest rates without clear guidance on further hikes — leaving the Federal Reserve the key to near-term moves.
Read more »