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Yen Rally Diminishes as U.S.-Japan Intervention Focus Shifts to Policy

Yen Rally Diminishes as U.S.-Japan Intervention Focus Shifts to Policy

The yen's initial rally following a joint U.S.-Japan intervention has faded, with the currency settling around 158.50 to the dollar. The intervention, aimed at supporting the yen, initially lifted it to 155 from just above 163. However, market attention is now shifting to domestic policy changes rather than government-backed measures. Robert Sockin, chief U.S. economist at PGIM, expressed skepticism about the intervention's long-term effectiveness, suggesting it may not reverse the yen's weakness trend and could potentially backfire.
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Japan's top pension fund posts record gain amid push for more flexible investment

Japan's top pension fund posts record gain amid push for more flexible investment

By Makiko Yamazaki and Takahiko Wada TOKYO, Aug 7 (Reuters) - Japan's Government Pension Investment Fund (GPIF) on Friday reported a record quarterly investment gain, as the government debates whether the world's largest pension fund should rethink its investment strategy.
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Japan's April yen intervention set daily record as pressure persists

Japan's April yen intervention set daily record as pressure persists

By Makiko Yamazaki TOKYO, Aug 7 (Reuters) - Japanese authorities conducted a record single-day yen-buying intervention in foreign exchange markets in April, selling $40 billion of the country's currency reserves, as they resumed massive yen-buying operations to stem the yen's slide.
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Japan's yen surges after US jobs data, traders wary of intervention risk

Japan's yen surges after US jobs data, traders wary of intervention risk

LONDON, Aug 7 (Reuters) - The yen jumped suddenly against the dollar again on Friday after a surprisingly weak U.S. employment report, with traders alert to the prospect of intervention just a few days after Japanese and U.S. authorities jointly stepped into the foreign exchange markets to lift the
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Dollar drifts higher as traders eye Iran talks ahead of US jobs data

Dollar drifts higher as traders eye Iran talks ahead of US jobs data

By Kevin Buckland TOKYO, Aug 7 (Reuters) - The dollar drifted higher against the yen and euro on Friday, building on the previous day's gains as doubts about an Iran peace deal buffed the U.S. currency's appeal as a haven.
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Trading Day: Pause before jobs

Trading Day: Pause before jobs

By Jamie McGeever ORLANDO, Florida, Aug 6 (Reuters) - The S&P 500 and Dow on Thursday pulled back from the previous day's record highs, pausing their strong earnings-driven start to the month, while Treasury yields and the dollar rose as investors turned their attention to U.S. employment data on
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Bank of Japan lines up another speaking event ahead of key September meeting

Bank of Japan lines up another speaking event ahead of key September meeting

By Leika Kihara TOKYO, Aug 7 (Reuters) - The Bank of Japan has set a third speaking event for one of its board members ahead of its next policy meeting in September, events which could drop hints on whether the central bank will meet growing market expectations of a rate hike that month.
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Japan June household spending falls on weather, Iran conflict clouds outlook

Japan June household spending falls on weather, Iran conflict clouds outlook

By Satoshi Sugiyama TOKYO, Aug 7 (Reuters) - Japanese household spending fell unexpectedly in June, government data showed on Friday, as weather-related factors weighed on outlays, while analysts expect private consumption to be subdued amid sentiment hit by the Middle East conflict.  
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Yen firms after landmark intervention, dollar near lows on optimism over Iran talks

Yen firms after landmark intervention, dollar near lows on optimism over Iran talks

By Amanda Cooper and Chibuike Oguh NEW YORK/LONDON, Aug 5 (Reuters) - The Japanese yen steadied on Wednesday after a historic intervention, while the dollar hovered near six-week lows against major peers as renewed hopes for an end to the Iran war curbed safe-haven demand.
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Dollar on track for weekly gain as traders eye Iran talks, US jobs data

Dollar on track for weekly gain as traders eye Iran talks, US jobs data

By Sophie Kiderlin and Kevin Buckland LONDON, Aug 7 (Reuters) - The dollar was little changed on Friday ahead of the U.S. monthly payrolls report, but remained on track for a weekly gain against major peers as uncertainty over a possible Iran peace deal buoyed the U.S. currency's safe-haven appeal.
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Japan and South Korea Equities Decline Amid Tech Selloff

Japan and South Korea Equities Decline Amid Tech Selloff

Equity markets in Japan and South Korea experienced significant declines, driven by a selloff in technology and semiconductor stocks. Japan's Nikkei index fell, influenced by weakness in U.S.-listed chip and AI-related stocks. South Korea's KOSPI index saw a sharper decline, dropping 4.52% due to concerns over the sustainability of AI-related spending. The market downturn occurred amid mixed signals from Federal Reserve officials regarding interest rate policies. Fed Governor Lisa Cook expressed readiness to support a rate hike if inflation does not ease, while San Francisco Fed President Mary Daly emphasized the need for more data before making further rate decisions.
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Morning Bid: Hoping for a clean and tidy jobs report

Morning Bid: Hoping for a clean and tidy jobs report

A look at the day ahead in European and global markets from Stella Qiu Markets are mostly in a holding pattern as traders stayed on the sidelines ahead of the U.S. payrolls report which is getting notoriously difficult to predict month by month.