SINGAPORE: The yen remained weaker versus the dollar after falling for a third straight year among speculation the Bank of Japan will carry on unmatched stimulus measures, as the Federal Reserve will raise interest rates this year.
The dollar held gains against its 16 major peers before a report by Market Economics which economists say will show that a US manufacturing index rose. The New Zealand dollar weakened, extending declines since 2013, after a Chinese manufacturing gauge slipped to the lowest level in 18 months.
“I would definitely not be buying the yen; I would be selling the yen on rallies still,” said Thomas Averill, a managing director in Sydney at Rochford Capital, a currency and rates risk-management company. “While the Fed is not going to rush into any action, rates will go up.”
The yen declined 0.1 per cent to 119.87 against the dollar at 8.10am in Singapore. Against the euro, Japan’s currency was little changed at 144.86. The shared currency slipped 0.2 per cent to US$1.2085 (RM4.2324). New Zealand’s currency, also known as the kiwi, fell 0.1 per cent to 77.95 US cents.
Financial markets are shut today in China, Japan, New Zealand, Philippines, Taiwan and Thailand. ― Bloomberg
shanghai shares start week with losses 25 june 2018
Hong Kong, (UrduPoint / Pakistan Point News - 25th Jun, 2018 ) :Hong Kong and mainland Chinese stocks fell on...
