The Japanese yen experienced significant volatility against the U.S. dollar over the past few days. Initially, the yen strengthened to its highest level in more than a year, briefly touching the 139 yen zone against the dollar due to growing speculations of a possible U.S. rate cut. The yen surged to 140.690 against the dollar as markets anticipated the Federal Reserve's interest rate decision. However, this was followed by a sharp decline, with the yen falling 1% against the dollar, marking its biggest drop in a month. The USD/JPY pair rose to 142.03, reflecting a strengthening of the U.S. dollar. The yen continued to weaken, with the USD/JPY moving above 143.00 and nearing 144.00. By Thursday morning, the U.S. dollar appreciated by more than 1% to 143.74, reaching its highest level in the past eight trading days. Japanese stock futures edged higher as the yen pared its gains after the Fed cautioned against assuming large rate cuts will continue. The USD/JPY also moved back above the 100-hour moving average at 141.07 and briefly reached 141.40.
#Yen extends loss against dollar to weaken 1%: Bloomberg
#US dollar appreciated against the #Japanese yen by more than 1% to 143.74 on Thursday morning, reaching a highest level for the past eight #trading days. #investing #ForexMarket #forexnews #forex #MarketUpdates https://t.co/q8sffyNrAu
USD continues to surge higher in Asia trade. USD/JPY near 144.00. https://t.co/fpIU8waLLd