Yen slumps to lowest since 1986, putting traders on alert

Quick Summary:

LONDON: The yen dropped to its lowest level since 1986 against the dollar on Wednesday (Jun 26), keeping currency markets alert for any signs of intervention from Japanese authorities to boost the beleaguered currency.

The US dollar was trading at 160.

So-called carry trade strategies, where investors borrow in low-yielding currencies to invest in higher-yielding ones, have become hugely popular as some countries have raised borrowing costs in recent years.

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Article Details

Category: EconomyBusiness

Markets: SingaporeAustraliaChinaJapan

Topics: Year Cuts Currency Dollar Interest Rate Japan Bank Cent Rates Traders

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-06-26 @ 19:08:00 (6 days ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 626 words

Reading Time: 4 minutes read

Sentences: 22 lines

Sentence Length: 29 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Channel News Asia

News ID: 21394372

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Main Topics: EconomyBusiness

Official Website: channelnewsasia.com

Update Frequency: 34 posts per day

Year Established: 1999

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News Last Updated: 1 hours ago

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