Continued Decline of the Japanese Yen:
The Japanese yen has approached the 155 mark against the US dollar
for the first time since 1990, indicating its weakness.
Content
Continued Decline of the Japanese Yen
Oil Prices Fall During Today’s Trading
Continued Decline of the Japanese Yen
The Japanese yen is nearing the 155 mark against the US dollar for the first time since 1990,
indicating the Japanese currency’s weakness.
The yen showed some recovery in the Asian market on Tuesday
as it rose slightly against a basket of major and minor currencies.
Japanese authorities closely monitor this development
and may intervene to protect the yen from excessive weakness.
The Bank of Japan might adopt a more hawkish tone under these circumstances.
Drop in Gold Prices After a Series of Rises
Gold prices fell to their lowest levels on Tuesday in more than two weeks,
as fears of a potential widespread conflict in the Middle East subsided.
This situation undermined investors’ interest in gold as a safe haven and increased their appetite for risk.
The spot gold price fell nearly 1% to $2304.99 per ounce. U.S. gold futures fell 1.2% to $2318.80 per ounce.
Gold had fallen more than 2% in the previous session,
marking its largest daily decline in over a year, after Iran announced
that it did not intend to respond to an apparent drone attack by Israel.
Oil Prices Fall During Today’s Trading
Oil futures declined on Monday, as concerns about the impact
of the conflict in the Middle East on oil supplies faded.
Brent crude futures fell 29 cents or 0.33% to $87 per barrel.
West Texas Intermediate futures fell 29 cents or 0.35%, closing at $82.85 per barrel.
Global oil prices had risen more than three dollars per barrel
early in Friday’s trading after explosions were heard
in the Iranian city of Isfahan, described by sources as an Israeli attack.
However, Tehran’s statements downplaying the impact of this attack
and announcing that it did not intend to respond led to a retreat in gains.