Published 04/24/2024, 08:43 PM NEW YORK/MILAN (Reuters) – The U.S. dollar gained on Thursday after a hotter-than-expected inflation reading for the first quarter, affirming expectations that the start of the Federal Reserve’s easing cycle could be pushed later in the year. The yen, meanwhile, hit a fresh 34-year low versus the dollar and a 16-year […]

TOKYO (Reuters) -Japanese authorities are facing renewed pressure to combat a sustained depreciation in the yen, as traders drive down the currency on expectations that any further interest rate hikes by the central bank will be slow in forthcoming. Below are details on how yen-buying intervention works: LAST CONFIRMED YEN-BUYING INTERVENTION? Japan bought yen in

TOKYO (Reuters) -The yen’s slide to fresh 34-year lows is likely to force Bank of Japan Governor Kazuo Ueda to walk a delicate line in guiding monetary policy this week as he tries to maintain a calibrated path to exiting ultra-easy rates without upending the currency. The BOJ chief will be mindful of avoiding the

SINGAPORE (Reuters) -The yen was pinned on the weaker side of 155 per dollar on Thursday as the Bank of Japan (BOJ) kicks off its two-day rate-setting meeting, leaving traders nervous as to whether Tokyo will intervene while policy deliberations are still underway. Having traded in a tight range over the past few days, a

JOHANNESBURG (Reuters) – The South African rand was little changed in early trade on Thursday, as traders looked ahead to the release of domestic producer inflation figures. At 0615 GMT, the rand traded at 19.1950 against the dollar, not far from its Wednesday close of 19.2100. Statistics South Africa will release the March Producer Price

Most Asian currencies kept to a tight range on Thursday, while the dollar steadied amid uncertainty over U.S. interest rates ahead of key economic signals in the coming days. The Japanese yen saw extended losses, with the USDJPY pair hitting new 34-year highs before a Bank of Japan meeting on Friday. The currency pair also

UBS revised its forecast for the USD/PLN currency pair, citing recent changes in the Federal Reserve’s interest rate outlook and escalating tensions in the Middle East. The Swiss financial services firm now expects the exchange rate to reach 4.10 in the second quarter of 2024, with a gradual decrease to 3.92 by the first quarter of 2025.