Doubts Over Intervention After Yellen Remarks Spur Weak Yen Bets
The yen weakened as US calls for caution on intervention added to expectations that the currency will face continued pressure due to a wide yield gap between the US and Japan.
The yen weakened as US calls for caution on intervention added to expectations that the currency will face continued pressure due to a wide yield gap between the US and Japan.
(Bloomberg) -- Bank of Japan Governor Kazuo Ueda said after meeting with Prime Minister Fumio Kishida that he’s carefully watching the impact of the weak yen on prices and he discussed recent currency moves with the premier.
Seventeen months into office, President Luiz Inacio Lula da Silva has put his stamp on the Brazilian central bank he has battled throughout his term. Four of the bank’s nine board members are now Lula appointees. And as they’ve grown in number and influence, they’ve begun to slowly shift the mindset inside an institution that has lately been aggressive, and almost obsessed, with its fight against inflation.
Cargoes of an oil product from Russia are building up at sea as South Korean buyers turn cautious, highlighting how the invasion of Ukraine is still impacting flows more than two years later.
UBS Group AG said the recent interest rate cut in Switzerland will hit lending income, making it the first big lender in Europe to warn that an almost two-year boost has finally turned into a headwind.
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