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Dollar at two-decade high as risky assets sell off; yen recovers ground
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Sterling hits 2-year low as GDP dips, post-Brexit tensions rise
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Dollar higher as risky assets tumble; yen rebounds from 1998 lows
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Cryptocurrency market value slumps under $1 trillion
Explainer-What are the consequences of the yen’s fall to a 24-year low?
Date: June 13, 2022
By Saikat Chatterjee LONDON (Reuters) – The Japanese yen fell past the psychological 135 line to levels against the U.S. dollar last seen in October 1998. The scale of the move has repercussions for the domestic economy as yen-based import prices are surging at a record annual pace, heaping pressure on household balance sheets. The...
Surprise British GDP drop, EU tensions add to sterling woes
Date: June 13, 2022
By Julien Ponthus LONDON (Reuters) -Sterling fell against the dollar on Monday, coming under downward pressure from data showing Britain’s economy had unexpectedly shrunk in April and from tensions with the European Union over post-Brexit trade with Northern Ireland. Gross domestic product contracted by 0.3% after falling by 0.1% in March, the first back-to-back declines...
Yen falls to lowest level since 1998 as U.S. yields march higher
Date: June 13, 2022
By Alun John HONG KONG (Reuters) – The yen tumbled to its lowest against the dollar in 24 years on Monday, as the gap between Japanese and U.S. benchmark yields widened after red hot U.S. inflation data drove U.S. Treasury yields higher. The dollar rose as high as 135.22 yen, its highest since October 1998,...
Japanese yen jumps after authorities sound intervention warning
Date: June 10, 2022
LONDON (Reuters) – The Japanese yen jumped on Friday after the government and the central bank in a rare joint statement expressed concern about its recent slide to hit two-decade lows, while the dollar edged higher ahead of key U.S. inflation data. After a meeting with his Bank of Japan (BOJ) counterpart, the country’s top...
Britannia Global Markets to give up LME membership on June 20
Date: June 9, 2022
By Pratima Desai LONDON (Reuters) – Britannia Global Markets will give up Category 2 membership of the London Metal Exchange (LME) from June 20 after the recent nickel debacle which led the exchange to suspend trading and cancel all nickel trades on March 8. Disorderly trade on that Tuesday saw nickel prices double in a...
Yen tumbles against euro as central bank policy diverges
Date: June 8, 2022
By Samuel Indyk LONDON (Reuters) – The euro hit a seven-year peak against the yen on Wednesday, getting a lift after an upward revision to first quarter growth and ahead of a European Central Bank meeting on Thursday that is likely to pave the way for rate hikes later in the year. The ECB is...