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EBC Daily Snapshot Mar 7, 2024

EBC Forex Snapshot 7 Mar 2024 The yen hit a one-month high against the dollar on Thursday after BOJ board member Junko Nakagawa said Japan's economy was moving steadily towards sustainably achieving the central bank's 2% inflation target. Japan's real wages in January were down 0.6% from a year earlier, marking the 22nd straight month of decline, as salary gains continued to fall short of price rises, government data showed. The dollar slipped after Powell said rate cuts will likely be appropriate later this year. Futures pricing currently point to a roughly 70% chance of policy pivot in June, according to the CME FedWatch tool. EBC Group Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment, or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC Group or the author that any particular investment, security, transaction, or investment strategy is suitable for any specific person.

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Publication date:

2024-03-07 10:49:13 (GMT)

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