Japanese yen heads for third weekly loss; exports surge
Mumbai, May 21 -- The Japanese yen weakened beyond 159 per dollar on Thursday, heading for a third consecutive weekly decline as investors closely monitored the critical 160 level, a zone historically linked with intervention by Japanese authorities. Despite strong domestic data showing exports surged 14.8% in April on robust demand from China, the U.S., ASEAN economies, and the European Union, the yen remained under pressure against a resilient dollar. Markets also continued to weigh expectations of another potential Bank of Japan rate hike in the coming weeks. Meanwhile, the U.S. dollar index hovered near 99.1, staying close to a six-week high as easing Middle East tensions supported sentiment after President Donald Trump signaled that ...
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