Genki Ikuta

Oct 7, 2024 | asia.nikkei.com | Genki Ikuta

TOKYO -- Speculative yen-buying is shrinking in the foreign exchange market, pushing the Japanese currency down near 150 against the U.S. dollar, as expectations for a large interest cut by the Federal Reserve Board faded on surprisingly robust jobs numbers released last week U.S. Consumer Price Index (CPI) data for June and the jobs report for July were both significantly below market expectations, triggering concerns about the health of the U.S. economy and spurring speculation about large...

Sep 13, 2024 | asia.nikkei.com | Genki Ikuta

TOKYO -- As the dollar softens on expectations of a U.S. interest rate cut, investors are moving money into emerging-market currencies, picking those most likely to benefit from a weak greenback while steering clear of political risk. Asian currencies have performed particularly well against the dollar since the turmoil seen in global financial markets early last month. The Thai baht strengthened 6% between Aug. 1 and Sept. 12, while the Malaysian ringgit and the Indonesian rupiah each gained 5%.

Jul 24, 2024 | asia.nikkei.com | Genki Ikuta |Takahisa Tamura |Shinichi Tamura

TOKYO -- Downward pressure on the yen is easing as more investors reverse their bets against the currency, expecting the gap between Japanese and U.S. interest rates to start narrowing later this year. The yen reached the 153 range against the dollar on Wednesday afternoon, its strongest level since mid-May. The Japanese currency has also been trending up against the euro and the pound since Monday afternoon.

Jul 8, 2024 | asia.nikkei.com | Genki Ikuta |Hana Slevin Ohama

TOKYO -- Overseas asset purchases by Japanese individuals through a newly revamped tax-free investment scheme have emerged as a major factor driving down the yen, with their scale likely surpassing the country's trade deficit during the first half of this year.

Jun 19, 2024 | asia.nikkei.com | Miki Kamiyama |Genki Ikuta

TOKYO -- Currency interventions by Japanese authorities appear to be having little effect on the yen's weakness against non-U.S. currencies, as carry trades drive the yen to historic lows against the Swiss franc, British pound and more. The market's response to the Bank of Japan's caution at its policy meeting last week is "fueling selling pressure on the yen," said Takumi Naya at Sumitomo Mitsui Banking.