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EBC Daily Snapshot Mar 20, 2024

EBC Forex Snapshot 20 Mar 2024 The yen languished near a four-month low against the dollar and a 16-year trough against the euro on Wednesday as traders wagered Japan's monetary settings will remain accommodative after a rate hike. In the previous session, the currency weakened to 151.58 per dollar, with the multi-decade low of 151.94 in sight and the threat of intervention by Japanese authorities resurfacing. The main spotlight for the day remains on the Fed that is expected to stand pat. Traders are pricing in a 59% chance of the Fed starting its easing cycle in June, the CME FedWatch tool showed. EBC Group Social Responsibility 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 Social Responsibility or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.

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Publication date:

2024-03-20 09:39:05 (GMT)

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