2024-04-22 22:19:00
At the end of the session, the dollar/yen rose 0.1% to 154.81 yen. The price has moved somewhat away from 155 yen, which is considered the intervention defense line. The Bank of Japan’s monetary policy meeting this week is attracting attention.
Calvin Tse, managing director and head of macro strategy for the Americas at BNP Paribas, said: “The Japanese Treasury believes that the fundamentals of the exchange rate are wrong, such as the significant rise in US bond yields which is causing of the appreciation of the dollar/yen. “I think they realized they were going in that direction.” “If the driving force behind the dollar/yen rise is a rise in US bond yields, I don’t think Japanese authorities will intervene,” he said, adding: “If US bond yields start to fall, there will be an opportunity for the Japanese authorities to act. “It will happen,” he said.
The dollar index against major currencies was flat or up slightly at 106.13.
The euro/dollar exchange rate was almost unchanged at $1.0651, while the pound/dollar exchange rate fell 0.1% to $1.2352.
Among crypto assets (virtual currencies), Bitcoin rose 3.6% to $66,384.
US Treasury yields rose sharply as expectations of an interest rate cut faded after the March Consumer Price Index (CPI) announced earlier this month was higher provided that. With a strong labor market also supporting the economy, the market focuses on economic indicators to determine the direction of the Federal Reserve’s monetary policy.
This week, GDP statistics will be announced on the 25th and personal consumption expenditures (PCE) on the 26th. Additionally, auctions will be held for two-year bonds ($69 billion) on the 23rd, five-year bonds ($70 billion) on the 24th and seven-year bonds ($44 billion) on the 25th.
Gennadiy Goldberg, head of U.S. rates strategy at TD Securities in New York, said the focus this week was on a series of government bond auctions and the release of GDP and PCE later in the week.
At the end of the session, the yield on 10-year bonds was 4.621%. The two-year bond yield, which easily reflects the interest rate outlook, was virtually unchanged at 4.971%.
The yield spread between 2-year and 10-year bonds remains stable at -35 basis points (bps).
Lamar Bieler, a portfolio manager at Bieler & Co. in New Orleans, said redemptions prevailed after the sharp sell-off.
<À terme sur le pétrole brut américain> Prices fell for the first time in three business days, with sales dominated by easing tensions in the Middle East and concerns about the economic outlook. The settlement price (equivalent to the closing price) of the May contract for standard US oil WTI was $82.85 per barrel, down $0.29 (0.35%) from the previous weekend . The June contract fell $0.32 to $81.90.
As concerns over the tense situation in the Middle East eased, crude oil prices briefly fell to the $81 level early in the morning. After that, there was some buying focused on supply and demand factors, such as technical buying and expectations that supply would be tight over the summer, and although there was At times when the stock moved into positive territory, the rebound was limited. Exchanges of retaliatory attacks between Israel and Iran have calmed, suggesting that both sides are trying to end the situation. Fears of spreading conflicts in the Middle East and disruption of crude oil supplies have eased. It was also highlighted that some member countries of the Organization of the Petroleum Exporting Countries (OPEC) have sufficient excess production capacity and are able to respond to supply disruptions.
This is a provisional value based on LSEG data. The previous day’s ratio may not match
Our code of conduct:New Thomson Reuters Trust Principles tab
1713828279
#York #Market #Summary #22nd #Dollar #Temporarily #Yen #34Year #High #Stable #Yield #Stocks #Rising #Reuters