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Japan's expected rate hikes could restart the unwind of the yen carry trade ... by the yen last month could resume as rates rise in Japan, SocGen says. Jennifer Sor. Updated September 4, 2024 at ...
From late 2020 to first half 2024, the yen depreciated against the dollar by about 60% (From 101 yen per dollar in the second half of 2020 to 162 yen per dollar in the first half of 2024.), [7] [5] giving rise to serious concern in Japan about long-term prospects for the currency.
As a side effect, the Japanese yen has become extremely weak, hitting a 37.5-year low of 161 yen/USD in July 2024. [ 83 ] [ 84 ] Furthermore, the real effective exchange rate in May 2024, when the 2020 average is set at 100, is 68.65, the lowest level since the start of the Bank of Japan statistics in January 1970, due to a combination of low ...
By 2024, Russia's FX reserves were estimated to be around $570 billion to $600 billion, with a substantial portion in gold, yuan, and other non-traditional reserve assets. The total value fluctuates due to changes in the exchange rates of the reserve currencies and adjustments to gold holdings.
China: Hong Kong stocks fade after three-week rise Hong Kong shares faded following a bumper 6.2% boost the day before, as traders took profits after a three-week rise of some 30%.
European shares followed Asian indexes higher on Wednesday after the Bank of Japan raised interest rates in a mostly unexpected hawkish pivot, sparking gains for the Japanese yen. The BOJ also ...
In the bond market, Treasury yields were ticking higher to tack more gains onto their sharp rise for the month so far. The yield on the 10-year Treasury rose to 4.28% from 4.24% late Friday.
Since December 28, 2016, the Bank of Japan has recommended the TONA rate as the preferred Japanese yen risk-free reference rate. [5] [6] TONA rate is recommended as a replacement for Japanese yen LIBOR, which was phased out at the end of 2021, and Euroyen TIBOR, which will be terminated at the end of 2024. [3] [7] [8] [9]