Japanese Yen Climbs On Interest Rate Concerns
06 Luglio 2023 - 8:36AM
RTTF2
The Japanese yen firmed against its major counterparts in the
European session on Thursday amid risk aversion, as minutes of the
U.S. Federal Reserve's June meeting supported expectations for
another rate hike at the end of this month.
The FOMC minutes showed that members were not 'unanimous' for a
pause in June and most of them agreed that more tightening would be
appropriate.
"Almost all participants noted that in their economic
projections that they judged that additional increases in the
target federal funds rate during 2023 would be appropriate," the
Fed minutes showed.
Oil prices fell on concerns that further interest rate hikes may
curb economic activity in the U.S.
U.S.-China tensions also remained on investors' radar, with the
United States firmly opposing China's plans to curb exports on
gallium and germanium, metals crucial for producing
semiconductors.
The yen climbed to a 9-day high of 143.55 against the greenback
and a 6-day high of 182.49 against the pound, off its early lows of
144.64 and 183.75, respectively. The yen is seen finding resistance
around 139.00 against the greenback and 172.5 against the
pound.
The yen touched 155.84 against the euro and 159.97 against the
franc, setting 10-day highs. The yen is likely to face resistance
around 150.00 against the euro and 144.00 against the franc.
The yen firmed to a 6-day high of 95.60 against the aussie,
2-day high of 88.84 against the kiwi and near a 2-week high of
108.03 against the loonie, from its early lows of 96.31, 89.39 and
108.89, respectively. The next possible resistance for the yen is
seen around 94.00 against the aussie, 87.00 against the kiwi and
103.5 against the loonie.
Looking ahead, U.S. weekly jobless claims data, Canada and U.S.
trade data for May, U.S. and Canada PMI data for June are set to be
published in the New York session.
Grafico Cross NZD vs Yen (FX:NZDJPY)
Da Giu 2024 a Lug 2024
Grafico Cross NZD vs Yen (FX:NZDJPY)
Da Lug 2023 a Lug 2024