By Alun John and Rae Wee
LONDON/SINGAPORE, Sept 7 (Reuters) - The yen surged to a seven-month high on Monday as traders reassessed the battered currency's outlook, driven by expectations of faster Bank of ***** an policy tightening and growing bets that ***** anese investors could repatriate funds.
The main event this week is Friday's U.S. inflation report, which could shape the Federal Reserve's decision on whether to raise interest rates later this month and influence the dollar's direction.
The European Central Bank also meets on Thursday and is widely expected to raise euro zone interest rates.
Until then, the focus remains on the yen. The dollar fell to as low as 154.05 yen, its weakest level since February, and was last down 1.1% at 154.4. It has now broken below lows reached in August after Washington and Tokyo jointly intervened to support the ***** anese currency, which was then trading at 40-year lows.
#rates #john
LONDON/SINGAPORE, Sept 7 (Reuters) - The yen surged to a seven-month high on Monday as traders reassessed the battered currency's outlook, driven by expectations of faster Bank of ***** an policy tightening and growing bets that ***** anese investors could repatriate funds.
The main event this week is Friday's U.S. inflation report, which could shape the Federal Reserve's decision on whether to raise interest rates later this month and influence the dollar's direction.
The European Central Bank also meets on Thursday and is widely expected to raise euro zone interest rates.
Until then, the focus remains on the yen. The dollar fell to as low as 154.05 yen, its weakest level since February, and was last down 1.1% at 154.4. It has now broken below lows reached in August after Washington and Tokyo jointly intervened to support the ***** anese currency, which was then trading at 40-year lows.
#rates #john
7 days ago
