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EBC Daily Snapshot May 2, 2024

EBC Forex Snapshot 2 May 2024 The yen slid against the dollar on Thursday, reversing direction after a sudden surge that was attributed to intervention. The dollar was on the back foot after the Fed struck a conciliatory tone at its meeting. Powell stressed it "will take longer than previously expected" for policymakers to become comfortable that inflation will resume the decline towards their target. He also saw more rate hikes as unlikely. The gap between long-term government bond yields in Japan and the US is around 380 bps. The yen’s big swings could have signalled Japanese authorities see 160 as their line in the sand. 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:

2024-05-02 09:19:13 (GMT)

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