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EBC Daily Snapshot Apr 11, 2024

The dollar was firm on Thursday after hotter-than-expected inflation data squashed lingering expectations of a rate cut in Q2. The Japanese yen traded within a whisker of the lowest since mid-1990. BOJ Governor Kazuo Ueda said the central bank would not directly respond to currency moves in setting monetary policy, brushing aside speculation that the yen's sharp falls could force it to act. Some yen traders are seeing 152 as a line in the sand for Japan’s finance ministry even though officials have repeatedly said they are not defending specific levels. EBC Asset Allocation Services 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 Asset Allocation Services or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.

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Publication date:

2024-04-11 09:08:54 (GMT)

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