2024-04-24 14:11:07
Approaching Japanese Yen From 155 to the dollar on Wednesday, according to the latest data from Refinitiv, despite the intensification of warnings of intervention from the Japanese authorities to support the currency, and at a time when the dollar index was recovering following having offset part of its losses following the significant declines he witnessed. the euro and the pound sterling yesterday.
Japanese Finance Minister Shunichi Suzuki recently said the government is currently studying the factors that lead… The yen falls The latter, emphasizing that Tokyo is ready to deal with any strong currency fluctuations.
The Japanese yen rose 0.10 percent to 154.97 per dollar at 1:45 p.m. GMT, while the dollar index, which measures the performance of the U.S. currency once morest a basket of six competing currencies including the The euro, the pound sterling and the yen, rose 0.2 percent.
The euro fell 0.4 percent, settling at $1.0695, following rising yesterday on Tuesday, following data showing that business activity in the euro zone grew at the fastest pace in almost one year.
Sterling also fell 0.1 percent in recent sessions, to $1.2449, following jumping 0.8 percent on Tuesday.
The Australian dollar rose 0.2 percent to 0.6501 U.S. dollars, following hitting 0.6530 for the first time since April 12, led by stronger-than-expected consumer price data, which led the markets to abandon any hope of a fall in short-term interest rates. .
The yuan also lost regarding 1.9 percent of its value once morest the dollar through mid-April, pressured by its relatively low yields compared to other currencies and foreign investment outflows due to the stock market weakness.
In turn, Chinese stocks rose, with the Shanghai Composite Index closing today’s session at 3,044 points, an increase of 0.76%, according to the latest data from Refinitiv.
The CSI 300 index rose 0.44 percent to 3,521 points, the Shenzhen index rose 1.01 percent to 9,678 points and Hong Kong’s Hang Seng stock index jumped 2,000 points. 21 percent, at 17,201 points.
Previous official data showed an increase China’s foreign exchange reservesby $19.8 billion, reaching $3,246 billion in March 2024, compared to around $3,226 billion in February.
The Chinese economy is suffering from several crises, notably the real estate crisis which threatens the world’s second largest economy, in addition to geopolitical tensions which have pushed foreign direct investments out of the country, and which have extended to employment decisions and stock prices. what prompted the credit rating agency Fitch Adjusting its outlook for China to negative, due to growing risks to the country’s public finance outlook.
Fitch expects the public deficit to increase to 7.1% of GDP in 2024, from 5.8% in 2023, while maintaining China’s credit rating at (A+).
1713968987
#Japanese #yen #dollar #government #intervention #approaching
