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EBC Daily Snapshot Apr 29, 2024

EBC Forex Snapshot 29 Apr 2024 The yen jumped suddenly against the dollar on Monday, which could be the work of intervention by Japanese authorities. Top currency diplomat Masato Kanda declined to comment if that was the case. A weaker yen is a boon for Japanese exporters, but also increases import costs, adds to inflationary pressures and squeezes households. In real terms, the currency has been at its weakest since at least the 1970s. Japan's central bank made a historic shift out of negative interest rates in March. The move was so well advertised, leaving speculative traders comfortable to add to short yen positions. EBC Fintech Development 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 Fintech Development or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.

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Publication date:

2024-04-29 10:25:21 (GMT)

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