Persistent fall of the Japanese yen: The Japanese yen is experiencing a decline in the Asian market trading on Wednesday
against major and minor currencies, continuing its losses for the third consecutive day against the US dollar
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Persistent fall of the Japanese yen
Persistent fall of the Japanese yen
The Japanese yen is experiencing a decline in the Asian market.
On Wednesday, it traded against major and minor currencies and continued
its losses for the third consecutive day against the US dollar.
The exchange rate has surpassed the 155 yen per dollar barrier.
This decline is attributed to the increased likelihood of Japanese authorities intervening again in the foreign exchange market.
Analysts believe any intervention by the Bank of Japan will only lead to a temporary rise in the yen’s value,
given the continuing significant interest rate differential between Japan and the United States.
Moreover, the rise in yields of US ten-year Treasury bonds is exerting negative pressure on the Japanese yen,
reducing its attractiveness as an investment option for buyers and financing deals.
Stability of gold prices:
Global gold prices have stabilized during the current trading period as market traders await new signals
from US Federal Reserve officials regarding the potential timeline for interest rate reductions.
The decrease in interest rates enhances the attractiveness of investing in gold, which does not yield a direct return.
The chance of a US interest rate cut in September exceeds 65%, increasing the likelihood of continued stability in gold prices.
Decline in oil prices:
Oil prices fell in early Asian trading on Wednesday as sector data revealed an increase in US crude and fuel inventories,
indicating a potential weakening in demand. Cautious expectations about supply
also prevailed ahead of next month’s OPEC+ meeting.
Brent crude futures fell 30 cents, or 0.36 percent, to $82.86 a barrel by 03:48 GMT.
West Texas Intermediate (WTI) US crude futures fell 25 cents, or 0.32 percent, to $78.13 a barrel
Persistent fall of the Japanese yen