The Japanese yen moved toward its strongest weekly performance in nearly fifteen months after gaining close to three percent, driven by renewed investor confidence following Prime Minister Sanae Takaichi’s election victory. Moreover, the rally surprised many traders who had expected political uncertainty to weaken the currency instead of strengthening it. Against the US dollar, the […]
yen surge
Yen surge pressures dollar amid global market optimism
The U.S. dollar came under pressure on Thursday as a resurgent Japanese yen, rising Australian dollar, and steadily strengthening Chinese yuan pushed the greenback toward a weekly loss. Investors are closely watching upcoming U.S. jobs and inflation data for signals on growth and Federal Reserve policy. The yen has gained more than 2.6% since Japan’s […]