Breaking News

Yen rallies to two-week high as investors doubt BoJ stimulus

News Date: 26/7/2016 04:31:59
 
Yen surged to multi-week highs as investors doubt the Bank of Japan will announce any stimulus measures in its meeting this week, bashing Japan's Nikkei index with it to a two-week low as exporters get hurt from the stronger local currency.

The yen last traded at 104.13 against the dollar, up a handsome 1.59% on the day, after touching a two-week high at 104.00, while surging a similar 1.50% versus the euro to hover around 114.59.

Japan's Nikkei on the other hand tumbled 1.43% to 16,383, but other Asian indices were luckier, with China's Shanghai Composite Index surging 1.14%, while Australian shares added 0.07%.

Oil prices suffered losses today on persistent oversupply worries, hovering still near three-month lows, with Brent futures down 33 cents, or 0.73% to $44.80 a barrel, while U.S. crude futures gave up 43 cents, or about one percent to trade at $42.70 a barrel.

Investors await the results of the Federal Reserve's meeting tomorrow, expected not to change its policy or interest rates, but might signal a hike before the year-end, which would buoy the dollar.

Also from the U.S., new home sales are forecast to rise to 560 thousand in June from May's 551K, which would add to the growing body of upbeat housing data that confirms the resilience of the American economy.

Latest news

The number of global Coronavirus infections is increasing at an unexpected speed, and German Chancellor Angela Merkel said yesterday that the pace of new infections is advancing day after day, and at
11-2020 17 08:37:57

Japanese stock indices closed lower today, due to undermining investor sentiment for fear of a rise in Corona cases, and the Nikkei index fell by 0.53% to 25385.87 points, and over the course of a we
11-2020 13 05:10:43

The US dollar manage this morning, to achieve progress during the trading session, as the « safe currency » rose by 0.04% to indicate 93.073, and the dollar fell against the Japanese yen
11-2020 12 08:11:42

Trump is still trying to raise the curtain on the corruption – as he claims – which was defined by the polling process in the last major US election that was sorted by Democrat Joe Biden,
11-2020 11 08:58:20

Most of the global markets rebounded on Monday, right after the opening of the weekly trading session, after Democrat Joe Biden won the US presidential elections, and both stocks and commodities rebo
11-2020 10 09:23:45

More News

Logs

Advertisements