Yen Drops to Fresh 34-Year Low as BOJ Keeps Key Rate Unchanged
The yen swung sharply from the day’s low to near its high amid jittery trading in the wake of the Bank of Japan’s decision to keep monetary policy unchanged.
The yen swung sharply from the day’s low to near its high amid jittery trading in the wake of the Bank of Japan’s decision to keep monetary policy unchanged.
European stocks gained along with US equity futures following blockbuster earnings from Microsoft Corp. and Alphabet Inc. The yen weakened to a 34-year low before paring losses in a sharp move, with traders on guard for any hints of intervention from Japan.
Nomura Holdings Inc.’s earnings climbed as soaring fixed-income trading and resurgent markets in Japan helped Chief Executive Officer Kentaro Okuda achieve the first increase in annual profit under his watch.
A selloff in global bonds paused as traders waited for US inflation to shed light on whether the Federal Reserve will be able to cut interest rates this year.
(Bloomberg) -- Global events continue to threaten Switzerland’s price stability despite the country’s strong record on inflation, Swiss National Bank President Thomas Jordan warned.
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