Yen Weakness Persists in Calm Trading; Dollar Range-Bound

Wednesday, 10 July 2024, 12:54
The Yen remains on a downward trend in today's trading, with exceptions against the New Zealand Dollar. The market is generally quiet, with the BoJ considering revising its growth forecasts downward for the year. Inflation is expected to stay around the 2% target, keeping the BoJ poised for a possible rate hike soon.
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Yen Weakness Persists in Calm Trading; Dollar Range-Bound

Financial Markets Update

Yen's Decline and Dollar Stability

  • Yen Weakness: Continuing decline, except against NZD.
  • BoJ Forecasts: Potential economic growth revision downward with inflation at 2%.
  • Possible Rate Hike: BoJ likely to consider hike with updated forecasts.

Today's trading reflects the ongoing theme of Yen depreciation amidst relative stability in most other currency pairs.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

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