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US dollar barges past 161 yen and eyes quarterly rise
The dollar was headed for a second straight quarterly gain and jumped to a near four-decade high on the battered yen in Asia trade on Friday, ahead of a crucial US inflation reading. Neither an overnight drop in US yields nor data showing solid consumer price gains in Tokyo could arrest the downward slide in Japan’s currency, which sank to its weakest since 1986 at 161.155 per dollar. For the quarter it is down 6% on the dollar and for the year so far it has lost 12% - the largest fall of any G10 currency. At 172.37 per euro it traded at a lifetime low on the common currency as yen bears test authorities’ ... (full story)
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- Posted: Jun 28, 2024 2:28am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 2,612
