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The Japanese yen strengthened against the dollar following hints of a potential rate hike by the Bank of Japan. The central bank also reduced its monthly bond purchases. Traders are cautious due to U.S. economic policies and inflation concerns. Japan's Finance Minister reiterated concerns over the sliding yen, hinting at possible intervention to stabilize the currency.
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News and Media
Wall Street saw a broad-based sell-off Friday, ending the Dow's five-session winning streak, with significant declines in tech and growth stocks. Higher U.S. Treasury yields and profit-taking contributed to the declines, affecting even top performers. Despite this, all three indexes posted weekly gains.
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News and Media
On Friday, the rupee experienced its steepest decline to date, reaching an all-time low of 85.53 against the US dollar, driven by domestic factors such as month-end dollar demand and limited RBI intervention. The local currency's overvaluation and potential for further depreciation are highlighted.
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News and Media
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