It was around a six - year high
against the yen of 109.06 and a three - year peak of 0.78 euros.
Not exact matches
It is the promise
of «Abenomics» that has seen the
yen shed about 15 percent
of its value
against the dollar since November and Japanese shares surge to their highest level in more than four years.
Abe's radical new economic policies, referred to as «Abenomics,» and expectations
of a bold monetary policy have weakened the
yen 21 percent
against the dollar since mid-November, while Japanese shares have surged almost 31 percent.
LONDON, Feb 14 (Reuters)- The dollar hit a 15 - month low
against the
yen but steadied
against the euro on Wednesday, with investors nervous ahead
of key U.S. inflation numbers due later amid a fragile recovery in equity markets.
The
yen has already gone down more than 16 percent
against the dollar since the beginning
of the year, and it is now down 12 percent in trade - weighted terms compared with the year before.
He also said that the Bank
of Japan doesn't realize that the odds are stacked
against them because whenever there's a problem in emerging markets, the
yen is seen as a safe haven, which causes it to strengthen.
Although Bernanke denies it, the Fed's money - printing naturally depressed the value
of the greenback
against other important currencies, such as the euro and
yen.
«There is a bit
of a risk - off undertone to markets here,» said Shaun Osborne, currency strategist at Scotia Bank in Toronto, referring to the
yen's performance
against the greenback.
LONDON, Feb 14 - The dollar hit a 15 - month low
against the
yen but steadied
against the euro on Wednesday, with investors nervous ahead
of key U.S. inflation numbers due later amid a fragile recovery in equity markets.
The U.S. dollar reached a session high
against the
yen following the release
of data.
The
yen soared 1 percent
against the dollar and euro on Tuesday after the Bank
of Japan said its open - ended commitment to buy assets would kick in only next year, disappointing those who had expected more aggressive monetary easing.
In the currency markets, the differing messages
of the world's major central banks on inflation and monetary policy prodded the dollar higher
against the
yen ahead
of a series
of appearances by U.S. Federal Reserve officials this week.
In the dying months
of 2013 the
yen fell 8 %
against the U.S. dollar while the MSCI Japan index climbed 8 %.
TOKYO, May 2 (Reuters)- Japan's Nikkei share average slipped on Wednesday amid caution ahead
of the Federal Reserve's policy decision and U.S. jobs data, although the dollar's rise
against the
yen and positive sentiment toward tech stocks helped curb some
of the losses.
Against the
yen, the dollar hit a two - month high
of 109.38
yen.
As the global economy deteriorated in 2008, the collapse in virtually all asset prices led to the unwinding
of the
yen carry trade, leading to it surging as much as 29 percent
against the
yen in 2008, and 19 percent versus the US dollar by February 2009.
The last time the G - 20 issued such a firm statement
against currency wars Japan was in the spotlight as its campaign
of monetary stimulus pushed the
yen to its lowest level
against the dollar in about five years.
The appreciation
of the Australian dollar
against the
yen boosted returns until 2008 but the sharp depreciation since then has wiped out the positive carry.
Specifically, the robust productivity growth achieved by the United States in the 1990s explains three - quarters
of the strengthening
of the dollar
against the
yen and two - thirds
of the dollar's appreciation
against the euro in that decade.
Elsewhere in forex markets, it's a relatively calm day, with a slight correction in the risk - off trade that we have been monitoring for weeks, as the
yen is a tad lower today
against all
of its major peers, while the Dollar couldn't gain on risk - on currencies, despite the equity weakness.
TOKYO, May 2 Japan's Nikkei share average slipped on Wednesday amid caution ahead
of the Federal Reserve's policy decision and U.S. jobs data, although the dollar's rise
against the
yen and positive sentiment toward tech stocks helped curb some
of the losses.
The US dollar in 2000 has risen
against the currencies
of all other industrial countries, although its rise
against the
yen has been relatively small.
Already some
of his comments have been blamed for the currency falling, most recently to two month lows
against the Japanese
yen, after he claimed the strength
of the US dollar
against China's yuan was «killing us».
US Treasury yields are stable, holding on near their recent highs, but as sentiment improved the USD sold off
against most
of its peers with only gaining some ground
against the safe - haven
Yen.
The
Yen is still on the move, after yesterday's short squeeze in the USD / JPY, as the safe - haven currency regained some
of the recently lost ground
against its peers.
As US consumer prices declined unexpectedly on a month - to - month basis, Treasury yields retreated, while the Dollar remained under pressure
against the Euro (although a break above 1.24 didn't happen in the EUR / USD), while the safe - haven
Yen regained some
of its recent losses
against the Greenback.
These paybacks have pushed up the
yen's exchange rate by 12 %
against the dollar so far during 2010, prompting Bank
of Japan governor Masaaki Shirakawa to announce on Tuesday, October 5, that Japan had «no choice» but to «spend 5 trillion
yen ($ 60 billion) to buy government bonds, corporate IOUs, real - estate investment trust funds and exchange - traded funds — the latter two a departure from past practice.»
The
yen was firmer
against the U.S. dollar, weighing on the value
of exports.
The rebound in the
yen, which has caused a de facto tightening in Japanese monetary conditions, creates a further headache for the Bank
of Japan, as it continues its extensive quantitative easing program,
against an economic background in which inflation indicators have remained sluggish.
It has continued an advance
against the US currency — begun at the end
of 2016 — that has reversed much
of the
yen's sharp decline immediately after the US presidential election.
As
of today, the unemployment level maintains to the lowest levels since 2009, but any increase in unemployment may weaken the European currency
against major pairs, including
Yen.
Elsewhere the Japanese
Yen slipped 0.06 % to ¥ 109.11
against the Dollar at the time
of writing, easing geo - political risk and better than expected PMI numbers out
of China supporting market risk appetite through the session, leading to a pullback in demand for the safe havens.
During this period, the dollar reached a low
of 102
against the
yen, and 1.365
against the euro — the lowest level since the latter's introduction in 1999.
In particular, the Australian dollar fell to around US63 cents by late August as investors moved out
of the currency into the rapidly appreciating
yen; the bilateral rate
against the
yen fell from 82 to 70
yen over the same period.
A strengthening
of the
yen against the dollar after the poor factory data weighed heavily on Japan's exporters.
In the final three months
of last year the US dollar declined by 8 per cent
against the euro and 7 per cent
against the
yen, to be around its lowest level in the past decade.
In case you've been living under a rock for the last few years, Japan's PM, Shinzo Abe's «Abenomics» (which is just Japan's colloquial term for our own QE that Bernanke put in motion), has caused the
Yen to devalue by over 50 %
against the dollar since the beginning
of 2013.
By the end
of the session, it was trading 0.4 percent higher
against Japan's currency at 106.65
yen.
The greenback slid
against all
of its major peers yesterday's, falling to an eight week low
against the pound sterling and sliding to 97.08
against the Japanese
yen, amongst others.
In the last week, the upcoming Japanese election has caused the
yen to fall
against a basket
of other currencies.
The US dollar looks to be on target for its best weekly performance
against the Japanese
yen since early June, despite yesterday's slip on the back
of concerns for the stability
of the US economy with the potential tapering
of the Federal Reserve's $ 85 billion a month bond purchasing program once again coming to the forefront
of investors minds.
The United States dollar hit a seven - month high
against the
yen on Monday
of 81.59.
During the trading session, the euro also made advances
against the Japanese currency and reached a four - week peak
of 104.50
yen.
Ultimately, these divergences represent the cornerstone
of our thesis; the US dollar should re-exert itself
against both the euro and
yen.
The bulk
of this has been due to the exchange rate
against the Japanese
yen, as the
yen has fallen sharply on world markets, including a fall
of about 50 per cent
against the US dollar from its peaks in mid 1995.
Most important has been the weakening in the
yen, which fell
against the US dollar from 133 at end March to a low
of 146, before intervention by the US authorities saw it recover sharply (Graph 1).
However, the Australian dollar remains one
of the few currencies in which market participants continue to have long speculative positions relative to the US dollar (Graph 24); in the case
of the Japanese
yen, Canadian dollar and Swiss franc, speculative positions
against the US dollar are short.
While the Australian dollar has appreciated more than some
of these other currencies, the additional appreciation is not that large (see Graph 24), and, as noted above, the Australian dollar remains below average levels
against currencies such as the euro and
yen.
Our exchange rate
against the US dollar and the currencies
of most
of our trading partners has shown little net change over the past year, and the rise in the trade - weighted index in recent months has been due mainly to the weakness being experienced by the Japanese
yen.
Among the latter were a contraction in international demand for electronics and a loss
of competitiveness as currencies appreciated with the US dollar
against the
yen.