Japanese yen weakens to four-month low vs US dollar and 16-year low vs euro amid expectations of Japan's accommodative monetary policy.
The Japanese yen weakened to a four-month low against the US dollar and a 16-year low against the euro on Wednesday amid expectations of Japan's accommodative monetary policy remaining intact despite the Bank of Japan's first rate hike in 17 years. The yen also weakened to record lows against the euro and the pound, with traders reducing their bets on rate cuts this year due to stronger-than-expected inflation reports. The focus remains on the Federal Reserve's upcoming decision, as the US dollar index rose to 103.87, while the euro was down 0.03% to $1.0862.
March 19, 2024
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