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


Pound Slides Against Majors (01 hr(s), 52 min(s), 05 sec(s) ago)
(RTTNews) - The British pound weakened against other major currencies in the European session on T ...Full Story»
Commodity Prices Rise As Crude Oil Prices Traded Higher (04 hr(s), 34 min(s), 06 sec(s) ago)
(RTTNews) - The commodity currencies such as Australia, the New Zealand and the Canadian dollar st ...Full Story»
U.S. Dollar Drops Against Most Majors (06 hr(s), 04 min(s), 06 sec(s) ago)
(RTTNews) - The U.S. dollar weakened against most major currencies in the Asian session on Thursda ...Full Story»
Yen Slides Against Majors (06 hr(s), 13 min(s), 06 sec(s) ago)
(RTTNews) - The Japanese yen weakened against other major currencies in the Asian session on Thurs ...Full Story»
Canadian Dollar Climbs Against Most Majors (06 hr(s), 31 min(s), 06 sec(s) ago)
(RTTNews) - The Canadian dollar strengthened against most major currencies in the Asian session on ...Full Story»
NZ Dollar Advances Against Most Majors (06 hr(s), 37 min(s), 06 sec(s) ago)
(RTTNews) - The New Zealand dollar strengthened against most major currencies in the Asian session ...Full Story»
Australian Dollar Rises Against Majors (06 hr(s), 43 min(s), 06 sec(s) ago)
(RTTNews) - The Australian dollar strengthened against other major currencies in the Asian session ...Full Story»
U.S. Dollar Strengthens Against Majors (34 min(s), 54 sec(s) ago)
(RTTNews) - The U.S. dollar advanced against its major counterparts in the New York session on Tue ...Full Story»
Search

FOREX NEWS

Pound Slides Against Majors

01/02/2025 - 04:50 AM (RTTNews)
(RTTNews) - The British pound weakened against other major currencies in the European session on T ...Full Story>>

Commodity Prices Rise As Crude Oil Prices Traded Higher

01/02/2025 - 02:07 AM (RTTNews)
(RTTNews) - The commodity currencies such as Australia, the New Zealand and the Canadian dollar st ...Full Story>>

U.S. Dollar Drops Against Most Majors

01/02/2025 - 00:38 AM (RTTNews)
(RTTNews) - The U.S. dollar weakened against most major currencies in the Asian session on Thursda ...Full Story>>

Yen Slides Against Majors

01/02/2025 - 00:27 AM (RTTNews)
(RTTNews) - The Japanese yen weakened against other major currencies in the Asian session on Thurs ...Full Story>>

Canadian Dollar Climbs Against Most Majors

01/02/2025 - 00:09 AM (RTTNews)
(RTTNews) - The Canadian dollar strengthened against most major currencies in the Asian 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.