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Yen weakens further to put focus on Tokyo, Asian equities rise

Published by Guardian on Fri, 28 Jun 2024


The yen extended losses to a fresh 38-year low Friday, putting investors on guard for a possible intervention by Japanese authorities ahead of the release of key US inflation data later in the day. Asian equity markets advanced following a positive lead from Wall Street, though there is speculation of a possible pull-back on profit-taking and concerns the recent tech-fuelled rally may have run too far. Traders took the Japanese unit to as much as 161.27 per dollar as they pushed the envelope with officials in Tokyo, who stepped into forex markets twice in April and May after the yenThe post Yen weakens further to put focus on Tokyo, Asian equities rise appeared first on Guardian Nigeria News.
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