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.1, GBP=,
Keywords: united states, federal reserve system, euro/japanese yen fx cross rate, elections, money markets, euro-dollar (mar'23), european central bank, monex group inc, u.s. dollar, gbp/usd, bank of japan, fourth of july, forex markets, breaking news: markets, usd/jpy, business news, employment figures, economic events, currency markets, u.s. economy, prices, unemployment, dxy 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