Morning bid: Yen hurtles toward historic low, Fed in focus

The central bank policy party rolls on into Wednesday with China and Indonesia under the spotlight in Asia ahead of the main event in Washington later in the day, as investors continue to digest the Bank of Japan's historic rate hike the day before.

The weak yen goes hand in glove with stronger Japanese stocks - the Nikkei 225 is back above 40,000 and within touching distance of its record high 40,472 points from earlier this month. A new high on Wednesday? This helps explain why 30-year Chinese government bond yields are down 40 basis points this year, recently hitting a record low of below 2.4% and coming within a whisker of dropping below 10-year yields, which also have hit 22-year troughs.

With inflation within the target range of 1.5% to 3.5% since July and the economy showing signs of a slowdown, all 31 economists in the March 8-15 poll agreed the central bank's next move would be a cut. The only issue is when.Bitcoin prices have tumbled since the largest crypto hit a record high near $74,000 last week. Tokens could fall further.Down over 20% from all-time highs, BCE stock offers you a tasty dividend yield in 2024.

Canada Latest News, Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Yen strengthens against dollar as Bank of Japan signals exit from negative ratesThe yen strengthened against the dollar on Monday as signs the Bank of Japan will exit negative interest rates at its policy meeting next week contrasted with expectations for the Federal Reserve to cut rates in June.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Dollar steady, yen soft as BOJ policy shift beckonsThe dollar was steady on Monday as traders looked ahead to a week dominated by central bank meetings worldwide, with the Bank of Japan seemingly on the brink...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

High Hopes for Yen Rally This Year Give Way to Talk of Slim GainExpectations for the yen to outperform its peers this year have all but evaporated, with strategists now forecasting the currency to end 2024 within a few percent of where it started.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Yen holds nerve as BOJ decision looms; dollar resurgentThe yen dwindled near the 150 per dollar level on Tuesday but held its ground ahead of a pivotal policy decision from the Bank of Japan (BOJ), while the U.S....
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Korean Won’s Correlation With Yen Jumps as BOJ Decision NearsThe South Korean won’s correlation with the yen has risen to the highest level in more than nine months as traders await a potentially historic policy decision by the Bank of Japan.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Japanese stocks down, yen steady as markets brace for landmark BOJ shiftJapanese shares fell on Tuesday along with regional markets, while the yen was steady heading into a pivotal Bank of Japan meeting that could end eight years...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »