(Bloomberg) -- The yen slumped back past 150 per dollar to its weakest level in a year, piling pressure on the Bank of Japan ahead of a policy decision next ...
-- The yen slumped back past 150 per dollar to its weakest level in a year, piling pressure on the Bank of Japan ahead of a policy decision next week and raising the risk of government intervention in the currency market.Apple Plans AirPods Overhaul With New Low- and High-End Models, USB-C Headphones
Japan spent around ¥9 trillion in September and October last year across three occasions in their first intervention to support the yen since 1998. This year the currency has weakened more than 12% against the dollar, making it the worst performer among its Group-of-10 peers. “It looks like some stops are being triggered in dollar-yen to push it above Oct. 3 highs,” said Win Thin, global head of currency strategy at Brown Brothers Harriman & Co. in New York. “Thin markets aren’t helping either as the pair trade at a new high for this move.”Meanwhile, the 10-year US Treasury soared to 4.95% on Wednesday versus 0.85% for its Japanese counterpart. The gap keeps pressure on the yen and fuels speculation the BOJ will to adjust its monetary policy.
WASHINGTON — The White House is asking lawmakers for nearly $56 billion in emergency spending to help the government respond to natural disasters, shore up funding for child care centers and keep high-speed internet running for low-income families — outlining President Joe Biden's domestic priorities as Congress simultaneously weighs sending billions for conflicts abroad.
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