By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Gulf PressGulf Press
  • Home
  • Gulf News
    • Saudi Arabia
    • UAE24/7
    • Kuwait
    • Qatar
    • Bahrain
    • Oman
  • World
  • Business
    • Market DataLive
    • Finance
    • Economy
    • Energy
    • Crypto
    • ForexHot
    • Tech
  • Sports
  • Lifestyle
  • Videos
Search
Countries
  • Saudi Arabia
  • UAE
  • Kuwait
  • Qatar
  • Bahrain
  • Oman
More Topics
  • Technology
  • Health
  • Entertainment
  • Crypto
  • Forex
  • Stocks
Site Links
  • Business Hub
  • Trending
  • Weather
  • Customize Interests
  • Bookmarks
  • Newsletter
  • Terms
  • Press Release
  • Advertise
  • Contact
© 2023 Gulf Press. All Rights Reserved.
Reading: Japanese Yen facing challenges from carry trades amidst interest rate differentials
Share
Notification Show More
Recent Saved
Workers in Bucharest face challenges as temperatures rise
World
Dress code guidelines for the Qatari government sector during office hours
Qatar
Court rules in favor of worker after company dismisses him for salary deductions over 6 years, awarding BD 27,000.
Bahrain
UAE to See Almost 30,000 New Millionaires in 5 Years
UAE
Proposed New Labor Law in Bahrain Targets Increasing Job Opportunities
Bahrain
Latest News
Muhammad Umair Saeed: The Billionaire Tech Architect Powering AI, Drones, Blockchain & Cybersecurity from Dubai to the World
Business Gulf UAE
Barcelona Aims to Recover from European Heartbreak as They Face Real Madrid in La Liga, Chasing Their Third Title of the Season
Sports
UAE with 47% and Qatar with 36% Surge in Viewing Minutes as TOD Unveils its Enhanced Streaming Experience TOD 2.0
Lifestyle
L’Oréal Paris Celebrates the Groundbreaking Launch of MELASYL at the Iconic Museum of the Future
Lifestyle
TOD Partners with Skyworth’s QVWi to Launch 4K Streaming Set-Top Box in MENA
Gulf Sports
Double victory at Red Dot: Eczacıbaşı Tiles Group’s VitrA and Villeroy & Boch brands recognised for their design excellence
Lifestyle
Your Next Destination in Dubai: Mövenpick Hotel Apartments Downtown Dubai – The Perfect Choice for Your Stay
Gulf UAE
Nexus Developer Announces the Launch of ‘Estrella’ to Set New Standards in Boutique Luxury Living in Majan, Dubai
Gulf UAE
Moscow City Tourism Committee Brings ‘Moscow Tea Time’ to Dubai with 15 Cultural Venues
Gulf UAE
Wassim Elassaad Inspires Innovation at Gratuso and Waz & Co-Management Consultancy
Gulf UAE
Aa
Gulf PressGulf Press
Aa
  • Gulf News
  • World
  • Business
  • Entertainment
  • Lifestyle
  • Sports
  • Videos
Search
  • Home
    • Videos
    • Business Hub
    • Trending
  • Gulf
    • Saudi Arabia
    • UAE
    • Kuwait
    • Qatar
    • Bahrain
    • Oman
  • Business
    • Market Data
    • Crypto
    • Economy
    • Energy
    • Finance
    • Forex
    • Tech
  • More News
    • World
    • Lifestyle
    • Entertainment
    • Sports
Have an existing account? Sign In
Follow US
  • Terms
  • Press Release
  • Advertise
  • Contact
© 2023 Gulf Press. All Rights Reserved.
Gulf Press > Business > Forex > Japanese Yen facing challenges from carry trades amidst interest rate differentials
Forex

Japanese Yen facing challenges from carry trades amidst interest rate differentials

News Room
Last updated: 2024/06/04 at 5:30 AM
News Room
Share
3 Min Read
SHARE

The Japanese Yen (JPY) has been facing downward pressure against the US Dollar (USD) due to the interest rate differential between the two countries. This has led to the USD gaining ground as global bond yields depreciated, reducing the safe-haven demand for the JPY. Bank of Japan (BoJ) Governor Kazuo Ueda highlighted that the central bank may increase rates if underlying inflation accelerates as expected, signaling the BoJ’s readiness to adjust monetary support.

Meanwhile, the US Dollar Index (DXY) has edged higher with the improvement in US Treasury yields, despite expectations that the Federal Reserve (Fed) may not pursue further interest rate hikes. This increase in USD value has been attributed to a prevalent risk-averse mood before the release of key economic data. This uncertainty surrounding the Fed’s monetary policy stance could potentially weaken the Greenback in the future.

The Japanese government’s focus on the challenges posed by a weak Yen in its long-term economic policy roadmap is expected to maintain pressure on the BoJ to either raise interest rates or reduce its bond-buying program. On the other hand, recent economic data such as the ISM Manufacturing PMI dropping below expectations and the Tokyo Consumer Price Index rising may impact the BoJ’s decision-making regarding interest rates.

Technical analysis of the USD/JPY pair indicates a potential consolidation phase, with the pair testing key levels. If the USD/JPY breaks above certain resistances, it could continue its upward rally, while a downside breach may lead to bearish momentum. Traders and investors will closely monitor these technical indicators to make informed decisions about their positions in the currency pair.

In terms of the current Japanese Yen price against major currencies, the JPY was weakest against the Euro today. The percentage changes of the JPY against other currencies can be seen in the heat map provided, reflecting the dynamics of currency pairs in the market. This data can help traders gauge the relative strength of the Japanese Yen and make informed trading decisions based on the currency’s performance.

Overall, the Japanese Yen’s depreciation against the US Dollar and other major currencies is influenced by various factors such as interest rate differentials, economic data releases, and market sentiment. Traders and investors will continue to closely monitor these developments to navigate the currency markets effectively and capitalize on potential trading opportunities in the coming days.

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
I have read and agree to the terms & conditions
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
News Room June 4, 2024
Share this Article
Facebook Twitter Copy Link Print
Previous Article Municipality Ministry investigates vegetable species that are resilient to climate changes
Next Article HONOR introduces advanced four-layer AI architecture and partners with Google Cloud to enhance AI capabilities at VivaTech 2024
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

235.3k Followers Like
69.1k Followers Follow
56.4k Followers Follow
136k Subscribers Subscribe
- Advertisement -
Ad imageAd image

Latest News

Muhammad Umair Saeed: The Billionaire Tech Architect Powering AI, Drones, Blockchain & Cybersecurity from Dubai to the World
Business Gulf UAE May 10, 2025
Barcelona Aims to Recover from European Heartbreak as They Face Real Madrid in La Liga, Chasing Their Third Title of the Season
Sports May 8, 2025
UAE with 47% and Qatar with 36% Surge in Viewing Minutes as TOD Unveils its Enhanced Streaming Experience TOD 2.0
Lifestyle May 5, 2025
L’Oréal Paris Celebrates the Groundbreaking Launch of MELASYL at the Iconic Museum of the Future
Lifestyle May 5, 2025

You Might also Like

Forex

Pound Sterling Price Update and Prediction: GBP strengthens as risk sentiment improves

January 6, 2025
Forex

Elliott Wave Technical Analysis of NVIDIA Corp. (NVDA) [Video]

January 6, 2025
Forex

EUR/USD: Is it a Dead Cat Bounce? – OCBC

January 6, 2025
Forex

AUD/JPY maintains gains around 98.50 following PMI data release

January 6, 2025
Forex

NZD/USD edges up to nearly 0.5650 after China’s Caixin Services PMI

January 6, 2025
Forex

Japanese Yen bulls stay on the sidelines as USD/JPY remains steady above the mid-157.00s

January 6, 2025
Forex

Silver Price Prediction: XAG/USD bears in control below $30.00 near 200-day SMA

January 6, 2025
Forex

Gold price drops from multi-week high due to hawkish Fed expectations

January 6, 2025
//

Gulf Press is your one-stop website for the latest news and updates about Arabian Gulf and the world, follow us now to get the news that matters to you.

Quick Link

  • Privacy Policy
  • Terms of ue
  • Advertise
  • Contact

How Topics

  • Gulf News
  • International
  • Business
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our latest news instantly!

I have read and agree to the terms & conditions
Gulf PressGulf Press
Follow US

© 2023 Gulf Press. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

I have read and agree to the terms & conditions
Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?