The Japanese yen weakened to 160 against the U.S. dollar in Monday morning trading in Asia.
The yen briefly touched 160.03 against the dollar, the weakest level since April 1990 when it touched 160.15, according to FactSet data.The currency has languished alongside continued strength in the greenback as Federal Reserve rate cut expectations get pushed back. The Fed's preferred inflation gauge came in slightlyFeeling out of the loop? We'll catch you up on the Chicago news you need to know.
"If yen moves have an effect on the economy and prices that is hard to ignore, it could be a reason to adjust policy," Ueda said, according to a Reuters translation.in the yen, but have made no official announcements about bolstering the currency. Some market watchers had suspected authorities would intervene at the 155 level, but the yen slidVincent Chung, associate portfolio manager for T.
"The current pace of depreciation is less than in 2022 so the intervention response could be less intense," Chung said, noting option pricing suggests markets predict intervention could come after the BOJ's May meeting. Still, Chung said yen weakness has"positively impacted stock performance, encouraged corporations to raise wages, and moved the country closer to the Bank of Japan 's inflation target of 2%."The Fed will be the main event in the week ahead that includes a jobs reportMcHenry County
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Japanese yen weak, USDJPY rises past 160 on middling BOJ, Fed fearsJapanese yen weak, USDJPY rises past 160 on middling BOJ, Fed fears
Read more »
Japanese yen touches 160 to the dollar; Asia stocks rise as Fed meeting loomsThe Japanese yen touched 160 against the U.S. dollar, while investors awaited Japan’s industrial production and retail sales data from March later in the…
Read more »
Sketch released of suspect in 1990 abduction, assault of 2 female juvenilesIf you have information on an unsolved crime, you can stay anonymous and be eligible for a reward up to $2,000. This is how the Crime Stoppers program works.
Read more »
Remains of man who went missing in Niagara Falls in 1990 identifiedA body that washed up on the shores of Lake Ontario in 1992 has been identified as a Buffalo man who is believed to have died going over Niagara Falls
Read more »
BMW's V16-powered 1990 750iL could have been the king of the AutobahnBMW experimented with a V16-powered, E38-derived flagship sedan in the early 1990s. The ultra-luxurious sedan and its engine were both canceled.
Read more »
Future Classic: 1990-2012 Mitsubishi EclipseIf you want the ultimate Eclipse, the 210-horsepower turbocharged GSX model with all-wheel-drive from 1995-1999 is the way to go.
Read more »