{"id":23419,"date":"2023-09-25T07:47:58","date_gmt":"2023-09-25T07:47:58","guid":{"rendered":"https:\/\/www.xtreamforex.com\/?p=23419"},"modified":"2023-09-25T07:47:58","modified_gmt":"2023-09-25T07:47:58","slug":"yens-decline-sparks-intervention-concerns-dollar-dominates","status":"publish","type":"post","link":"https:\/\/www.xtrememarkets.com\/MU\/yens-decline-sparks-intervention-concerns-dollar-dominates\/","title":{"rendered":"Yen&#8217;s Decline Sparks Intervention Concerns; Dollar Dominates"},"content":{"rendered":"<h1><strong>Yen&#8217;s Decline Sparks Intervention Concerns; Dollar Dominates<\/strong><\/h1>\n<p><span style=\"font-weight: 400;\">The decline of the yen has ignited concerns about potential interventions as the dollar continues to dominate the market. The yen is nearing a critical point of 150 per dollar, following the Bank of Japan&#8217;s decision to stick with its ultra-loose monetary policy. The decision by Governor Kazuo Ueda to not shift policy has left the market on edge.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The yen hit a low of 148.49 per dollar over a ten-month period, dangerously close to the 150 mark that could prompt intervention by Japanese authorities. This comes after a dip of over 0.5% on Friday when the Bank of Japan chose to keep interest rates low. Governor Ueda emphasized the need for further data analysis before making any decisions on rate increases.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&#8220;The speed of change might be more significant than the specific level,&#8221; said Carol Kong, a currency strategist at the Commonwealth Bank of Australia. &#8220;But given recent warnings from Japanese officials, I think the risk of intervention is higher now. There&#8217;s also a higher chance of coordinated intervention, especially after recent comments from U.S. Treasury Secretary Janet Yellen, who seems to support BOJ&#8217;s intervention.&#8221;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Meanwhile, the euro saw a slight increase of 0.04% against the dollar, reaching $1.0649 after a six-month low of $1.0615 on Friday. It&#8217;s set for a monthly loss of 1.8%, it&#8217;s largest since May. The British pound stabilized at $1.2244 following a 1% drop last week when the Bank of England delayed its rate hike plans due to unexpected data showing a slowdown in Britain&#8217;s inflation rate.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&#8220;Central banks in the UK, Euro area, and Japan are shifting their approach,&#8221; noted Thierry Wizman, global FX and interest rates strategist at Macquarie. &#8220;They&#8217;re exploring whether their slowing economies will defeat inflation, or if the slowdowns are severe enough to no longer require further tightening. The U.S., however, hasn&#8217;t shown the same growth weaknesses as the rest of the world, and the Fed has indicated its willingness to take risks.&#8221;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Despite keeping rates unchanged at last week&#8217;s policy meeting, Fed officials signaled future rate hikes. The markets are currently predicting a roughly 21% chance of a 25-basis-point increase at the November meeting.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In other currency news, the Australian dollar rose slightly by 0.06% to $0.6445, while the New Zealand dollar fell 0.05% to $0.5958 after hitting a three-week high of $0.6001 earlier in the session.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Yen&#8217;s Decline Sparks Intervention Concerns; Dollar Dominates The decline of the yen has ignited concerns about potential interventions as the dollar continues to dominate the market. The yen is nearing a critical point of 150 per dollar, following the Bank of Japan&#8217;s decision to stick with its ultra-loose monetary policy. The decision by Governor Kazuo<\/p>\n... <a href=\"https:\/\/www.xtrememarkets.com\/MU\/yens-decline-sparks-intervention-concerns-dollar-dominates\/\">continue reading<\/a>.","protected":false},"author":3,"featured_media":22624,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[198],"tags":[265,642,19,217,157,392,22,201,641],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v16.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>Yen&#039;s Decline Sparks Intervention Concerns; Dollar Dominates<\/title>\r\n<meta name=\"description\" content=\"The decline of the yen has ignited concerns about potential interventions as the dollar continues to dominate the market.\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.xtrememarkets.com\/MU\/yens-decline-sparks-intervention-concerns-dollar-dominates\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"Yen&#039;s Decline Sparks Intervention Concerns; 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