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EBC Daily Snapshot May 8, 2024

EBC Forex Snapshot 8 May 2024 The dollar made modest gains on Wednesday after earlier losses from renewed bets on Fed rate cuts this year. The yen was trading around 155 per dollar as traders prepare for another round of whack-a-mole. BOJ Kazuo Ueda said the central bank may take monetary policy action if yen declines affect prices significantly. Finance Minister Shunichi Suzuki warned that authorities were ready to respond to excessively volatile moves in the currency market. However, analysts have said that any intervention from Tokyo would only serve as a temporary respite for the yen, given stark interest rate differentials between the US and Japan remain. EBC Group Corporate News 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 Corporate News EBC or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.

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Publication date:

2024-05-09 09:41:20 (GMT)

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