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Yen bruised, hits 24-yaer low, as Japan's rates gap widens with rest of the world

The Star Business LogoThe Star Business1 mo ago

Yen bruised, hits 24-yaer low, as Japan's rates gap widens with rest of the world

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HONG KONG: The yen hit a fresh 24-year low against the dollar on Wednesday, having taken another tumble overnight as U.S.bond yields continued to rise, in stark contrast to Japan's stubbornly low interest rates.

Wong said because the BOJ had not changed its policy at last week's meeting, these positions were now being unwound or reversed with some betting the yen would continue to weaken.

The currency has been weakening as higher energy prices put pressure on Japan's current account and because of the ever widening gap between yields on Japanese government bonds and U.S.Treasuries.


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Article Details

Author / Journalist: The Star Online

Category: Economy

Topics: Yen Interest rates Forex /Business/Business News Japan Dollar 24-year low

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-22, 09:25:00

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Reading Time: 4 minutes read

Article Length: 633 words

Coverage Area: Malaysia

Availability: Desktop Web, Mobile Web

News ID: 2741

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About The Star Business

The Star Business Logo

Main Topics: Economy

Official Website: thestar.com.my

Update Frequency: 36 posts per day

Year Established: 1971

Headquarters: Malaysia

News Last Updated: 4h ago

Coverage Areas: Malaysia

Ownership: Independent Company

Publication Timezone: GMT +8:00

News Language: English

RSS Feed: Available (XML)

Website Security: Secure (HTTPS)

Publisher ID: #22

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