YEN PULLS BACK FROM THREE AND HALF WEEK LOW, GAINS HALF A PERCENT AGAINST INR

Published on Aug 02, 2023 15:21

The Japanese Yen soared today, witnessing good gains against the US dollar as markets eyed the latest shift in the Japanese monetary policy and supportive economic data for the currency. Japanese jobless rate fell by -0.1 to 2.5% in June, thereby offering a boost to the hopes of a sustained economic recovery in the country. The Japanese 10 year bond yield also hit a fresh nine year high of 0.63%, thereby offering a good push to the Yen as the USDJPY pair pulled back from a three and half week high of 143.50 and fell under 143 mark today. It currently trades at 142.55, down 0.55%. On the NSE, the JPYINR futures are quoting at 58.24, up 0.52% on the day.