FOREX TradingCharts.com
HOMECHARTS & QUOTESFOREX NEWSFOREX QUOTESLEARN FOREXFOREX BROKER LISTBOOKMARKFEEDBACK

Forex News: Yen Falls Amid BoJ Rate Hike Speculation

Yen Falls Amid BoJ Rate Hike Speculation

12/30/2024 - 02:42:00 (RTTNews)

(RTTNews) - The Japanese yen weakened against other major currencies in the pre-European session on Monday, as traders speculate that the Bank of Japan (BoJ) is likely to deliver an interest rate hike in January.

The possibility of a rate hike in January was maintained by some BoJ policymakers who saw elements coming together for an impending rate hike, with one forecasting a move soon in January.

In economic news, data from the from Jibun Bank showed that the manufacturing sector in Japan continued to contract in December, albeit at a slower pace, with a manufacturing PMI score of 49.6. That's up from 49.0 in November.

Traders are pricing for the possibility that the U.S. Federal Reserve could make fewer cuts in 2025, as inflation remains elevated.

This week ushers in a light period for economic data and corporate earnings, with regional and U.S. markets closed Wednesday in observance of New Year's Day.

In the pre-European session today, the yen fell to a 1-1/2-month low of 164.88 against the euro and a 4-day low of 158.07 against the U.S. dollar, from early highs of 164.41 and 157.70, respectively. If the yen extends its downtrend, it is likely to find support around 168.00 against the euro and 160.00 against the greenback.

Against the pound and the Canadian dollar, the yen slid to near 2-week lows of 198.98abd 109.84 from early highs of 198.37 and 109.49, respectively. The yen may test support near201.00 against the pound and 111.00 against the loonie.

The yen edged down to 175.34 against the Swiss franc, from an early high of 174.91. On the downside, 178.00 is seen as the next support level for the yen.

Looking ahead, Canada CFIB business barometer for December, U.S. Chicago PMI for December, pending home sales for November and U.S. Dallas Fed manufacturing index for December are slated for release.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2024 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT FOREX and ECONOMIC NEWS STORIES


U.S. Dollar Advances Amid Trump's Tariff Threats (22 min(s), 30 sec(s) ago)
(RTTNews) - The U.S. dollar firmed against its most major counterparts in the New York session on ...Full Story»
U.S. Dollar Rises Against Majors (04 hr(s), 16 min(s), 30 sec(s) ago)
(RTTNews) - The U.S. dollar strengthened against other major currencies in the European session on ...Full Story»
Yen Rises Amid Tariff Worries (06 hr(s), 19 min(s), 30 sec(s) ago)
(RTTNews) - The Japanese yen strengthened against other major currencies in the Asian session on F ...Full Story»
U.S. Dollar Falls As Economic Growth Slows More Than Expected (55 min(s), 31 sec(s) ago)
(RTTNews) - The U.S. dollar declined against its most major counterparts in the New York session o ...Full Story»
Canadian Dollar Weakens As BoC Cuts Rates (31 min(s), 30 sec(s) ago)
(RTTNews) - The Canadian dollar declined against its major counterparts in the New York session on ...Full Story»
Euro Falls Amid ECB Rate Cut Speculation (02 hr(s), 34 min(s), 30 sec(s) ago)
(RTTNews) - The euro weakened against other major currencies in the European session on Wednesday, ...Full Story»
U.S. Dollar Rises As Traders Focus Of U.S. Fed Rate Decision (03 hr(s), 52 min(s), 30 sec(s) ago)
(RTTNews) - The U.S. dollar strengthened against other major currencies in the European session on ...Full Story»
U.S. Dollar Rises Against Majors (04 hr(s), 19 min(s), 30 sec(s) ago)
(RTTNews) - The U.S. dollar strengthened against other major currencies in the European session on ...Full Story»
Search

FOREX NEWS

U.S. Dollar Advances Amid Trump's Tariff Threats

01/31/2025 - 12:17 PM (RTTNews)
(RTTNews) - The U.S. dollar firmed against its most major counterparts in the New York session on ...Full Story>>

U.S. Dollar Rises Against Majors

01/31/2025 - 05:36 AM (RTTNews)
(RTTNews) - The U.S. dollar strengthened against other major currencies in the European session on ...Full Story>>

Yen Rises Amid Tariff Worries

01/31/2025 - 03:35 AM (RTTNews)
(RTTNews) - The Japanese yen strengthened against other major currencies in the Asian session on F ...Full Story>>

U.S. Dollar Falls As Economic Growth Slows More Than Expected

01/30/2025 - 12:50 PM (RTTNews)
(RTTNews) - The U.S. dollar declined against its most major counterparts in the New York session o ...Full Story>>

Canadian Dollar Weakens As BoC Cuts Rates

01/29/2025 - 13:25 PM (RTTNews)
(RTTNews) - The Canadian dollar declined against its major counterparts in the New York session on ...Full Story>>
USDCAD
Economic CalendarForex GlossaryForeign Exchange RatesForex Currency TradingForex ChartsPrivacy Policy Translate AdvertiseContact Us

Do not sell my personal information

Copyright © 2025. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.