Yen slips further to 10-month low as dollar strengthens broadly
Yen slips further to 10-month low as dollar strengthens broadly
The Japanese yen fell to a 10-month low on Thursday, extending its previous day’s slide that saw the currency breach a key technical level against a broadly strengthening dollar.
A run of dire economic news out of Japan has stirred talk the country is already in recession and that Japanese funds were dumping local assets in favor of U.S. shares and gold.
Improving risk appetite in global markets has also hit the yen, which usually tends to benefit in times of market stress.
China reported a drop in new infections on Thursday, but scientists warned the pathogen may spread more easily than previously believed as two elderly passengers from a ship quarantined in Tokyo became the latest to die.
China also cut its benchmark lending rate on Thursday, as widely expected, as the authorities move to lower financing costs for businesses.
“There’s a combination of factors (for the yen weakness) — a broader strengthening of the dollar on the back of the coronavirus which is making the dollar more attractive across the board,” said Lee Hardman, currency strategist at MUFG in London. “To a degree, it was a catch-up move.”
Hardman also noted a pickup in purchases of foreign bonds and equities by Japanese investors during dips in the yen in recent weeks.
The yen fell further to 111.84 to the dollar, its lowest since April 2017. On Thursday, its smashed a key technical barrier of around 110.30 that had held firm since last May.
The euro was 0.1% lower at $1.079. The dollar also rose 0.3% on the Chinese yuan to 7.0215 and the Australian dollar sink to 11-year lows at $0.6630.
Against a basket of peers, the greenback hit its highest since May 2017 and is now up over 3.5% this year.
“The critical thing to understand is the Yen weakness is not so much “Risk on” as it is Japanese asset managers heading for the Tokyo market exit in droves,” said Stephen Innes, Asia Pacific Market Strategist at AxiCorp.
“With the USD inflow unyielding, its unclear what could stem this tide other than U.S. administration talking down the dollar.”
U.S. President Donald Trump has long protested that the dollar was too strong and unfairly penalizing U.S. business
Source: CNBC/Reuters
Comments (49)
how much does hydroxychloroquine cost
modafinil prescription online provigil and alcohol
sildenafil buy online without a prescription https://www.pharmaceptica.com/
https://provogilpleasure.com/ modafinil moa
provigil dosage https://modafilmodafinil.com/
sulfamethoxazole and alcohol bactrim dosing
prednisone interactions prednisone long term side effects
https://bactrimxazole.com/ sulfameth/ Trimethoprim 800/160 tabs
accutune accutane for acne
modalert online https://modafilmodafinil.com/
chloroquine side effects chloroquine phosphate over the counter
… [Trackback]
[…] Find More here on that Topic: dayfinanceltd.com/yen-slips-further-to-10-month-low-as-dollar-strengthens-broadly/ […]
… [Trackback]
[…] Info to that Topic: dayfinanceltd.com/yen-slips-further-to-10-month-low-as-dollar-strengthens-broadly/ […]
… [Trackback]
[…] There you will find 55359 more Information to that Topic: dayfinanceltd.com/yen-slips-further-to-10-month-low-as-dollar-strengthens-broadly/ […]
… [Trackback]
[…] Information on that Topic: dayfinanceltd.com/yen-slips-further-to-10-month-low-as-dollar-strengthens-broadly/ […]
… [Trackback]
[…] Find More Info here on that Topic: dayfinanceltd.com/yen-slips-further-to-10-month-low-as-dollar-strengthens-broadly/ […]
… [Trackback]
[…] Info on that Topic: dayfinanceltd.com/yen-slips-further-to-10-month-low-as-dollar-strengthens-broadly/ […]
… [Trackback]
[…] There you can find 14690 additional Info on that Topic: dayfinanceltd.com/yen-slips-further-to-10-month-low-as-dollar-strengthens-broadly/ […]
… [Trackback]
[…] There you will find 27372 additional Info on that Topic: dayfinanceltd.com/yen-slips-further-to-10-month-low-as-dollar-strengthens-broadly/ […]
… [Trackback]
[…] Information on that Topic: dayfinanceltd.com/yen-slips-further-to-10-month-low-as-dollar-strengthens-broadly/ […]
… [Trackback]
[…] Info to that Topic: dayfinanceltd.com/yen-slips-further-to-10-month-low-as-dollar-strengthens-broadly/ […]
… [Trackback]
[…] Info on that Topic: dayfinanceltd.com/yen-slips-further-to-10-month-low-as-dollar-strengthens-broadly/ […]
… [Trackback]
[…] Find More Information here to that Topic: dayfinanceltd.com/yen-slips-further-to-10-month-low-as-dollar-strengthens-broadly/ […]
The mechanism of drug release was anomalous non fickain transport for all the prepared batches buy cialis online without a prescription With a little manual labor just snapping down the lid of a pill cutter with your finger pill splitting can save quite a lot of money
… [Trackback]
[…] Info to that Topic: dayfinanceltd.com/yen-slips-further-to-10-month-low-as-dollar-strengthens-broadly/ […]
… [Trackback]
[…] Find More Information here to that Topic: dayfinanceltd.com/yen-slips-further-to-10-month-low-as-dollar-strengthens-broadly/ […]
I don’t think the title of your article matches the content lol. Just kidding, mainly because I had some doubts after reading the article. https://www.binance.com/ro/register?ref=W0BCQMF1
… [Trackback]
[…] Information to that Topic: dayfinanceltd.com/yen-slips-further-to-10-month-low-as-dollar-strengthens-broadly/ […]
How does the dosage of 120 mg Accutane daily compare to the standard dosage? https://isotretinoinex.website/
accutane price usa how to buy accutane online
how safe is accutane accutane rx accutane nz
buy brand name accutane online price of accutane in australia
buy research accutane accutane over the counter uk
In need of reliable sources for accutane 40 mg? Explore accutane 40 mg price for top-notch information.
How does a 20 mg dosage of Accutane compare to other available dosages? https://isotretinoinex.website/
Is there a specific treatment duration recommended for a 100 milligram dosage of Accutane? https://isotretinoinex.website/
Get the best deals to purchase Accutane in Singapore at accutane singapore buy and achieve clear skin.
accutane generic price order accutane online australia how much does isotretinoin cost
Looking for isotretinoin pills in 39 milligrams? Visit accutane pill 39 mg for trusted options.
Looking for isotretinoin pills in 39 mg? Check out accutane pill 39 mg for trusted options.
order meclizine 25 mg generic
buy antivert
buy antivert sale
meclizine canada
antivert 25mg sale
brand antivert 25mg
meclizine generic
antivert 25 mg oral
antivert 25mg pill