Wall Street Poised For Second Day Of Gains While Bank Of Japan Makes Reassurances; Dollar Strengthens Against Yen, Crude Prices Surge: What's Driving Markets Wednesday?
Shinichi Uchida stated the central bank will avoid raising interest rates during times of market volatility, easing fears sparked last week by a rate hike from the Bank of Japan coupled with growing concerns about a potential U.S.recession.The U.S.dollar surged 2% against the Japanese yen, marking its largest one-day increase since June 2022 and reigniting trader interest in the yen-dollar carry trade strategy.
The U.S.stock market is poised for its second consecutive day of gains, aiming to reverse the sell-off that occurred through Monday as investors assess the ongoing earnings season and welcome reassuring comments from the Bank of Japan.Deputy Gov.
Treasury yields rose again by about 5 basis points across the curve, sending bond-related assets down.
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