Yen eyes 5-week high as focus turns to US presidential debate, inflation

Quick Summary:

TOKYO : The yen hovered near a five-week peak and the dollar hung close to a three-week top versus the euro on Wednesday, as traders waited nervously for a key inflation report that could provide clues on how aggressively U.S.rates would be cut next week.

At the same time, "a significant downside surprise would not be welcomed by the market because it could be interpreted as a sign of an unfolding demand shock," he added.

FILE PHOTO: The new Japanese 5,000 yen banknote is seen in Tokyo, Japan July 3, 2024.

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Category: EconomyBusiness

Markets: SingaporeJapan

Topics: Time First Debate Seen Dollar Trump Tokyo Cent Currency Japanese Markets

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-11 @ 08:38:32 (4 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 496 words

Reading Time: 3 minutes read

Sentences: 22 lines

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Copyright Owner: © Channel News Asia

News ID: 22453771

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