The yen's rapid descent to six-year lows against the dollar is starting to push beyond comfort zones for three quarters of Japanese firms, a Reuters poll showed, highlighting the potential for profits to be squeezed as import costs climb.
Japan struggled with a strong currency for much of the past decade, only gaining sustained relief from late 2012 as Prime Minister Shinzo Abe came to power and embarked on bold monetary stimulus.
But this past month, the yen has tumbled about 6 percent to trade around 109 yen against the greenback, pressured by growing expectations that the Federal Reserve will lift interest rates sooner than forecast and speculation that the Bank of Japan may have to ease further.
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GBP/USD retreats toward 1.2450 on modest USD rebound
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Gold is closely monitoring geopolitics
Gold trades in positive territory above $2,380 on Thursday. Although the benchmark 10-year US Treasury bond yield holds steady following upbeat US data, XAU/USD continues to stretch higher on growing fears over a deepening conflict in the Middle East.
Ripple faces significant correction as former SEC litigator says lawsuit could make it to Supreme Court
Ripple (XRP) price hovers below the key $0.50 level on Thursday after failing at another attempt to break and close above the resistance for the fourth day in a row.
Have we seen the extent of the Fed rate repricing?
Markets have been mostly consolidating recent moves into Thursday. We’ve seen some profit taking on Dollar longs and renewed demand for US equities into the dip. Whether or not this holds up is a completely different story.