SINGAPORE : The yen fell through the psychological 120 level for the first time since 2016 on Tuesday, after a hawkish speech from Federal Reserve Chair Jerome Powell raised bets on higher U.S. interest rates and widened the policy gap on a dovish Bank of Japan.
"Widening policy divergence is continuing to push the yen to more deeply undervalued levels against the U.S. dollar," MUFG currency analyst Lee Hardman said.U.S. bonds and interest-rate futures took a further flogging overnight after Powell said policymakers needed to move"expeditiously" and put the possibility of 50-basis point rate hikes on the table.
Benchmark 10-year yields rose 14 bps and, at 2.0914per cent, the gap on anchored 10-year Japanese yields is the widest in more than 2-1/2 years. [US/][JP/]
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Fed prepared to raise interest rates 'aggressively': PowellWASHINGTON: The US central bank is prepared to raise interest rates by bigger steps than the quarter-point hike announced last week if that is what\u0027s needed to contain \u0022much too high\u0022 inflation, Federal Reserve Chair Jerome Powell said on Monday (Mar 21). Consumer prices in the world\u0027s largest economy have
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Asia in cautious mood, yen near six-year lowSYDNEY : Asian share markets started the week in a cautious mood on Monday as investors clung to hopes for an eventual peace deal in Ukraine, but the fighting raged on with no sign of stopping.Turkey's foreign minister said on Sunday that Russia and Ukraine were nearing agreement on 'critical' issues and
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Shares in sober mood, yen near six-year lowSYDNEY : Asian share markets started the week in a sober mood on Monday as fighting in Ukraine raged on with no sign of stopping, leaving investors clutching at hopes for an eventual peace deal.Turkey's foreign minister did say on Sunday that Russia and Ukraine were nearing agreement on 'critical' issues
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Dollar dips, yen near six-year lows as Ukraine crisis weighsLONDON : The dollar edged lower versus major currencies on Monday, with investors awaiting remarks from U.S. Federal Reserve chair Jerome Powell later in the day and from other central bank policymakers this week for monetary policy clues.Currency markets have been roiled over the past month by the financ
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Dollar pauses, yen near six-year lows as Ukraine crisis weighsLONDON :The dollar was steady versus major currencies on Monday, with investors awaiting remarks from U.S. Federal Reserve chair Jerome Powell later in the day and from other central bank policymakers this week for monetary policy clues.Currency markets have been roiled over the past month by the financial fa
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
UN weighs listing Great Barrier Reef as 'in danger'SYDNEY: The United Nations began a monitoring mission on the Great Barrier Reef on Monday (Mar 21), assessing whether the World Heritage site is being protected from climate change as it suffers further widespread bleaching. Higher-than-average temperatures have again caused severe bleaching in p
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »