NFP Hammers Dollar to 4 Months Low
The aftermath of the Japanese yen's strengthening has manifested in significant dips across multiple markets, including equities, commodities, and various currencies. The yen has erased all its 2024 losses against the dollar, moving towards the 145.00 mark. The dollar index (DXY) has fallen to its lowest level since March, hovering above the $103 mark.
Yen Resurgence! Will Next BoJ Week Sustain the Rally?
The U.S. Conference Board reported a slight decline in the US Consumer Confidence Index (CCI) for June 2024, dropping to 100.4 from 101.3 in May. The Bank of Japan (BoJ) opted to keep its key short-term interest rate steady at 0.10% for June 2024, in line with market expectations. At its June 2024 meeting, the Federal Reserve decided to keep the federal funds rate unchanged at 5.50%. In June 2024, the Bank of England (BoE) decided to keep the interest rate at 5.25% unchanged. This decision...
