Reported about 1 month ago
A Bloomberg analysis reveals that yen selling intensifies during US trading hours, driven by the dollar's strength as traders react to US Treasury sales and Federal Reserve officials' cautious stance on interest rate cuts. Current speculations suggest the yen may drop further towards its 200-day moving average of 151.36, with potential rises towards 155 if resistance levels are breached. The dollar-yen exchange rate has fluctuated significantly in response to US economic data and Fed comments, and recent developments have pushed the yen to its weakest level since July.
Source: YAHOO