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EBC Daily Snapshot Apr 26, 2024

EBC Forex Snapshot 26 Apr 2024 The yen hit its weakest level in three decades against the dollar after the BOJ held interest rates steady on Friday. The dollar steadied though US economic growth disappointed in the last quarter. The central bank did not provide a clear guidance on the future rate hike path. In its quarterly outlook report, core consumer inflation is expected to hit 2.8% in the year that began in April. Finance Minister Shunichi Suzuki again threatened to intervene in the market. Still, traders figure there is not much Tokyo can do to reverse the yen's slide as interest rates will unlikely rise soon. EBC Wealth Management Expertise 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 byEBC Wealth Management Expertise or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.

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Publication date:

2024-04-26 09:01:57 (GMT)

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