{"id":1999685,"date":"2023-08-14T00:25:02","date_gmt":"2023-08-14T04:25:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/yen-breaks-above-145-level-in-choppy-trading-dollar-firm\/"},"modified":"2023-08-14T00:27:52","modified_gmt":"2023-08-14T04:27:52","slug":"yen-breaks-above-145-level-in-choppy-trading-dollar-firm","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/yen-breaks-above-145-level-in-choppy-trading-dollar-firm\/","title":{"rendered":"Yen surpasses 145\/$ level in volatile trading, dollar remains strong."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fyen-breaks-above-145-level-in-choppy-trading-dollar-firm%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1999685&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"entry-content\">\n<p>By Ankur Banerjee<\/p>\n<p>SINGAPORE (Reuters) \u2013<\/p>\n<h2>The Yen Breaks Above 145 Against\u200b the Dollar<\/h2>\n<p>The yen was volatile on Monday after slipping to \u200cits lowest for the year against\u200b the dollar, breaching the key 145 \u2063level as traders warily looked\u2062 for clues on possible intervention, while the dollar rose to touch a \u200dmore than \u200done month high.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>The Japanese yen\u2062 weakened to as low as 145.22 per dollar in early Asian hours, its lowest since Nov. 10 2022 before quickly\u2063 reversing course. It was last\u2064 at 144.96 per dollar, flat\u200c on the day. <\/p>\n<p>Japan\u2019s low yields have \u2064made the currency an easy target for short-sellers and \u200cfunding trades, with the widening gap in\u200b the interest rates between Japan and the United States leading to persistent weakness in the yen. <\/p>\n<p>The yen has fallen around 20% since the Federal Reserve began rapidly raising rates to combat soaring inflation in \u2064March 2022, while the Bank of Japan remains stuck in an extremely accommodating stance.<\/p>\n<p>Japan intervened \u2062in currency markets last September when the \u200cdollar rose past 145 yen, which prompted the Ministry of Finance to buy the yen and push the pair back to around 140 yen. The yen is down \u2064over 9% \u200dagainst the dollar for the year.<\/p>\n<p>With the yen loitering around that level again, traders \u2063expect Japanese officials to start warning of intervention soon. <\/p>\n<p>Saxo Markets \u2064strategists said this week\u2019s GDP and CPI data in Japan could be \u200ckey, as well as U.S. data which could continue to push Treasury yields higher. <\/p>\n<p>\u201cTraders\u2064 are also continuing to watch whether Japanese authorities could intervene but lack of verbal intervention so far suggests potential patience from them.\u201d<\/p>\n<p>Treasury yields have been elevated and\u200b got another\u2063 boost on Friday after data\u2063 showed U.S. producer prices increased slightly in July,\u2063 more than expected, as the cost of \u2064services rebounded at\u200c the fastest pace in nearly a year. <\/p>\n<p>That comes after news on Thursday that consumer prices rose moderately in July. The PPI data cast some doubt on\u2064 whether the Federal Reserve is done with its <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/top-hedge-fund-ceo-calls-for-fed-to-hit-brakes-on-inflation\/\" title=\"Top Hedge Fund CEO Calls For Fed To Hit Brakes On Inflation\">rate hike cycle<\/a>.<\/p>\n<p>Markets anticipate nearly 89% chance of \u200dthe Federal Reserve  standing pat on interest rates at its meeting \u2063next \u2063month, CME FedWatch tool showed, with traders anticipating no more hikes\u2063 for the rest of\u200d the year. <\/p>\n<p>Central bank officials, though, have maintained that it is too soon to make that call.  <\/p>\n<p>The inflation\u200b data along with <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/yen-breaks-above-145-level-in-choppy-trading-dollar-firm\/\" title=\"Yen surpasses 145\/$ level in volatile trading, dollar remains strong.\">recent labour market data point<\/a> to the Fed leaving rates unchanged at its \u2062September meeting, ANZ analysts said, adding that there will be one more set of nonfarm \u2064payroll and CPI data for the Fed to consider  before the\u2063 meeting. <\/p>\n<p>They said the resilience of the U.S. consumer will be in the spotlight with the release of July retail sales data, with\u2062 <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/after-killing-us-oil-projects-biden-begs-russia-saudi-arabia-for-help-fighting-rising-gas-prices\/\" title=\"After Killing US Oil Projects, Biden Begs Russia, Saudi Arabia For Help Fighting Rising Gas Prices\">rising fuel prices<\/a> and tighter credit conditions expected to bite.<\/p>\n<p>The dollar index, which measures the U.S. currency against six peers, tacked on 0.078% at\u200c 102.94, its highest since \u2062July 7. The index is up 1% for the month.\u200c <\/p>\n<p>The euro was down 0.09% to $1.0934,\u200c while sterling was last \u200bat $1.2676, down 0.14% on the day<\/p>\n<p>The \u200cAustralian dollar fell 0.48% to $0.647, while\u2063 the kiwi slipped 0.38% to $0.596. Both Antipodean currencies have been undermined by disappointing trade and inflation data from China, the biggest buyer of their resource exports.<\/p>\n<p>While sentiment towards China is down, this week\u2019s high-frequency\u200c China\u2063 data\u200c may only need a\u2062 small beat to cause a strong upside reaction in China proxies, said Pepperstone\u2019s Head of Research Chris Weston. <\/p>\n<\/p>\n<p>  (Reporting by \u200cAnkur Banerjee in Singapore; Editing by Shri Navaratnam)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/yen-breaks-above-145\/attachment\/file-photo-illustration-shows-japanese-yen-and-u-s-dollar-banknotes-2\/\"><\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Since being removed from the Fox News lineup, Tucker Carlson has held bombshell interviews that have\u2064 driven \u200bnews cycles.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>David Weiss becomes \u2062Special Counsel in the Hunter Biden probe, while Sam Bankman-Fried trades his mom\u2019s basement for a jail cell.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>With less than two weeks before \u200dthe first GOP Presidential debate, media and \u200dpolitical strategist Adam Weiss \u2064says it would be\u2062 beneficial\u2063 for Trump not to participate.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>The lack of answers from the\u2063 Biden Administration continues to cause frustration \u200cfrom families who lost loved ones during the U.S. withdrawal from Afghanistan.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>SEOUL (Reuters) \u2013 South Korea\u2019s largest telco SK\u200c Telecom said it will invest $100 million in U.S. artificial intelligence firm Anthropic to\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>ERBIL (Reuters) -Iraq\u2019s telecoms ministry said it will lift a ban on the Telegram messaging app on Sunday, which\u200c was imposed earlier\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>NEW YORK (Reuters) \u2013 Australia-listed investment firm GQG Partners added more shares of Nvidia Corp in the second quarter,\u200b ending June\u2064 with\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Daniel Trotta EL CAJON, California (Reuters) \u2013 California firefighters are using artificial intelligence to help spot wildfires, feeding video from more\u2026 \u200d <\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>its lowest level of the year against the dollar, causing volatility in the market. Traders are cautiously watching for signs of intervention, while the dollar reached a one-month high.<\/p>\n","protected":false},"author":66,"featured_media":1999686,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-1999685","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1999685","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1999685"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1999685\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1999686"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1999685"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1999685"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1999685"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}