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Yen drops to 38-year low, U.S. dollar slumps after weak data - TL;DR CNBC

Yen drops to 38-year low, U.S. dollar slumps after weak data

Publishing timestamp: 2024-07-04 01:28:07


Summary

The yen sank to a 38-year low against the U.S. dollar and a record trough versus the euro. The dollar fell after softer-than-expected U.S. economic data, while the euro remained resilient. The focus is on the yen as Japanese authorities are being watched for potential intervention. The U.S. economy is showing signs of slowing down, leading to expectations of a rate cut by the Federal Reserve later this year.


Sentiment: MIXED

Tickers: EURJPY=JPY=.DXY@GE.1GBP=

Keywords: united statesfederal reserve systemeuro/japanese yen fx cross rateelectionsmoney marketseuro-dollar (mar'23)european central bankmonex group incu.s. dollargbp/usdbank of japanfourth of julyforex marketsbreaking news: marketsusd/jpybusiness newsemployment figureseconomic eventscurrency marketsu.s. economypricesunemploymentdxy us dollar currency index

Source: https://www.cnbc.com/2024/07/04/yen-drops-to-38-year-low-us-dollar-slumps-after-weak-data.html


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