The Nikkei 225 index (Symbol: Nikkei225) jumped as traders returned from the Obon holiday, driven by a more stable yen and strong gains in tech stocks.
The dollar held its ground on Wednesday, while the yen retreated from a seven-month peak. Currency markets stabilised after a turbulent start to the week driven by recession fears and the unwinding of carry trades.
In just three trading sessions, the Nikkei share average (NI225) has lost a fifth of its value. On Monday, it tumbled 12.4%, marking its second-largest decline on record and its biggest since the Black Monday crash of October 1987.
The Japanese yen climbs high at 145 per dollar, driven by BOJ rate hike expectations and weak US jobs data. Explore the market implications and opportunities.
Key points: Yen and Swiss franc near multi-month highs due to U.S. manufacturing slump. Sterling hits one-month low as Bank of England starts rate-cutting cycle. The Japanese yen and Swiss franc traded close to multi-month highs against the dollar on …
Thursday saw Japan’s Nikkei share average take a sharp tumble as the yen surged following the Bank of Japan’s (BOJ) historic monetary policy meeting on Wednesday.
An eventful Wednesday saw the Bank of Japan (BOJ) raise interest rates to levels not seen in 15 years. This prompted traders to reassess popular carry trades before the Federal Reserve held rates steady but hinted at potential rate cuts …
Key points: The Nikkei index increased by 0.25%, supported by banking stocks after the BOJ rate hike. Banks attracted substantial foreign investments, with net stock purchases reaching 472 billion yen. Japan’s Nikkei share average rose on Wednesday, buoyed by banking …
The Japanese yen took a breather from its recent rally as the BOJ began its two-day meeting on Tuesday. Last week, the yen surged over 2% against the dollar.
The yen (USDJPY) dominated currency markets this month, climbing to a near three-month high of 151.945 per dollar on Thursday. This is a major shift from its 38-year low of 161.96 per dollar at the start of the month. By …
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