The yen was volatile on Monday after slipping to its lowest for the year against the dollar, breaching the key 145 level as traders warily looked for clues on possible intervention, while the dollar rose to touch a more than one month high. Japan's low yields have made the currency an easy target for short-sellers and funding trades, with the widening gap in the interest rates between Japan and the United States leading to persistent weakness in the yen. The yen has fallen around 20% since the Federal Reserve began rapidly raising rates to combat soaring inflation in March 2022, while the Bank of Japan remains stuck in an extremely accommodating stance.
Yen breaks above 145/dlr level in choppy trading, dollar firm reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
The dollar edged up
on Monday after a mixed U.S. jobs report on Friday sent the U.S.
currency to a one-week low, with market focus turning to
inflation data from the world s two largest economies due.
USD: US Dollar Rate Today- August 7, 2023 arynews.tv - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from arynews.tv Daily Mail and Mail on Sunday newspapers.