Japan's yen took the spotlight in Asia on Monday, circling near the 150-per-dollar level in a tug of war between investors betting on a further rise in...
SINGAPORE - Japan's yen took the spotlight in Asia on Monday, circling near the 150-per-dollar level in a tug of war between investors betting on a further rise in dollar yields and those expecting Japanese authorities will intervene in markets.
Masafumi Yamamoto, chief currency strategist at Mizuho Securities in Tokyo, said a set of investors are betting the Bank of Japan will defend the 150 level, even as others see rising U.S. yields as a reason to keep pushing the dollar up. Oil prices dipped on Friday after Hamas released two U.S. hostages from Gaza, leading to hopes the crisis could de-escalate without engulfing the rest of the Middle East region and disrupting oil supplies. Brent crude futures were 0.6% lower at $91.55 a barrel, but are still up 10% over 10 days.The ECB meets on Thursday.
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