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The yen reached its highest level since mid-March

EBC Forex Snapshot, 1 Aug 2024 The US dollar on the defensive on Thursday after the Fed opened the door for an interest rate cut in September. Powell said a pivot could be on the table if disinflation continues as expected. The yen was volatile, hitting its highest since mid-March. The BOJ raised interest rates again to levels not seen in 15 years and announced plans to halve its monthly government bond purchases.

The yen surged 7% in July, its strongest monthly performance since November 2022. CFTC data shows speculators' bearish bets against the yen are 40% below April's near-seven year high.

The green numbers in the table indicate that the data has increased compared with the previous time; the red numbers indicate that the data has decreased compared with the previous time; and the black numbers indicate that the data has remained unchanged.

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Publication date:

2024-08-01 13:39:12 (GMT)

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