Eileen rises amid intervention pressures
The Japanese yen jumped by 1% to 156.01 against the dollar following a joint Japanese-American intervention in the foreign exchange market to support the struggling currency. This comes amid expectations that interventions will continue if structural pressures on the yen persist. As a result, the dollar declined, stabilizing at an index of 99.78 after a 1.5% drop last week. Meanwhile, the euro reached a one-and-a-half-month high of $1.1559, and the British pound approached its highest level in two weeks, amid falling oil prices and resumed negotiations with Iran. Market participants are also awaiting U.S. employment data, which will influence Federal Reserve decisions.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)