Asia FX flat amid rate jitters; yen passes intervention line ahead of BOJ
Investing.com-- Most Asian currencies kept to a tight range on Thursday, while the dollar steadied amid uncertainty over U.S. interest rates ahead of key economic signals in the coming days.pair hitting new 34-year highs before a Bank of Japan meeting on Friday. The currency pair also blew past a level that traders had widely expected to elicit intervention from the Japanese government.The USDJPY pair surged past the 155 level in overnight trade, and steadied around 155.44 in Asian trade.
The central bank is widely expected to keep interest rates unchanged on Friday, following a historic rate hike in March. The BOJ could potentially hike its inflation outlook and reiterate plans to raise interest rates further this year- a scenario that could potentially boost the yen. Economic data due this week was set to provide more cues on the path of interest rates. First quarter U.S.data is due later on Thursday, and will show just how resilient the U.S. economy was in the beginning of 2024.pair hovered below record highs hit earlier in April, with traders remaining wary of the currency with India’s 2024 general elections set to begin this week.
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GGV Capital Asia Rebrands As Granite Asia After U.S. SplitBased in Singapore, I am a senior reporter for Forbes Asia, covering billionaires, entrepreneurs, wealth and deals across Asia. Prior to joining Forbes, I worked for several media organizations in the past two decades, including Bloomberg and Thomson Reuters.
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