Yen set for strongest week in three months as carry trades unwind

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SINGAPORE, July 26 — The yen was poised for its strongest week in nearly three months today as traders unwound long-held...

The souring risk sentiment this week has weighed heavily on the Australian dollar and the New Zealand dollar, with both currencies - seen as risk proxies - down nearly 2 per cent for the week.

Today, the yen was last at 153.66, set for a 2.5 per cent rise for the week, its biggest weekly gain since late April-early May, as global stocks sell-off also drove investors towards safe assets, including the yen.

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Category: EconomyBusiness

Markets: MalaysiaAustraliaJapanNew ZealandSingapore

Topics: Yen up Forex

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-26 @ 13:54:30 (1 days ago)

News Timezone: GMT +8:00

News Source URL: malaymail.com

Language: English

Article Length: 657 words

Reading Time: 4 minutes read

Sentences: 21 lines

Sentence Length: 32 words per sentence (average)

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Copyright Owner: © Malay Mail

News ID: 21784667

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