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EBC Daily Snapshot May 23, 2024

EBC Forex Snapshot 23 May 2024 The dollar hovered near a one-week high on Thursday following its best day this month after minutes of the last Fed meeting revealed some officials kept the door open to more rate hikes. The yen fell to the lowest since 1 May overnight in the face of possible interventions. Japan’s 10-year sovereign bond yield reached 1% for the first time since the rollout of stimulus measures in 2013. Nearly half of Japanese firms find the yen's slide beyond 155 to the dollar harmful to their business, roughly double the percentage of those who see the currency's weakness as a positive, a Reuters survey showed. EBC Investment Strategy Report 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 Financial Group or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.

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Publication date:

2024-05-23 10:01:09 (GMT)

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