This Tuesday, July 4, the dollar experience a slight fall against the yenwhile the markets remain on alert at possible signs of a Japanese intervention. However, the overall trading volume is low due to the holiday in US markets for Independence Day in that country.
The green ticket registered a decrease of 0.18%, standing at 144.44 yen, after experiencing an increase of 0.27% on Monday. Despite this, the yen remains near its low in nearly eight months from the previous week, at 145.07 units per dollarwhich led to the Japanese Finance Minister, shunichi suzukito warn about overselling yen.
In SeptemberJapan bought yen, making its first market intervention to boost its currency since 1998. This was because the Bank of Japan’s promise to maintain a monetary policy ultra-lax as long as necessary led the yen to fall to 145 units per dollar. Then, in October, Japan intervened again after the yen hit its lowest level in 32 years, hitting 151.94 per dollar.
Stock activity remained relatively subdued, as US markets remain closed for the 4th of July holiday. In addition, investors were waiting for the employment report non-agricultural of the United States, which would be published on Friday and could influence the next decision of the Federal Reserve.
Forex: other currencies
On the other hand, the euro experiences a fall of 0.15% against the dollarstanding at $1,089while the pound registered an increase of 0.18%, reaching 1,271 dollars.
dollar indexwhich measures the price of the greenback against a basket of six currencieswas largely unchanged at 102.99.
As for the Reserve Bank of Australia (RBA), decided to keep interest rates at 4.10% on Tuesday. The agency stated that it needed more time to assess the impact of previous increasesbut cautioned that additional tightening may be necessary to control inflation.
In relation to Australian dollarsaw an increase of 0.21%, reaching US$0.669 at 1104 GMT.
Source: Ambito
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