Connect with us

Hi, what are you looking for?


The US dollar fluctuated on Thursday. What about the yen? 

The US dollar fluctuated on Thursday. What about the yen? 

The US dollar surged forward after trading in the red on Thursday. New data showed that the US economy grew slower in the first quarter of 2023 than analysts expected. However, it likely won’t sway the Fed from hiking interest rates at next week’s meeting. High rates might contribute to economic downfall, and usually, when the growth slows, economists advise maintaining rates low. But as the high inflation persists in plaguing the country, the central bank maintains its aggressive policy.

The greenback gained broadly as investors expected another hike. It soared versus the Japanese yen, exchanging hands higher by 0.2% at 133.985 yen. Moreover, the US dollar index rallied by 0.3% on Thursday. It last stood at 101.67.

In Asia, Indonesia’s rupiah led the gains. It jumped higher earlier in the session before the dollar strengthened. The emerging market stocks also climbed up today. The rupiah increased by as much as 1%. It is the best-performing currency thus far in 2023.

BofA Global Research analysts noted that portfolio flows would likely continue supporting IDR. That would offset risk in terms of dovish policy bias and trade moderation.

What about the Thai baht and the Indian rupee? 

The Thai baht soared by 0.2% on Thursday. The trade data showed that in Thailand, exports shrunk less than analysts forecasted last month. Agriculture exports increased, especially rice and sugar, supporting the economy. MUFG analysts noted that the baht’s current strength is due to this news.

At the same time, the Singaporean dollar added 0.1%. The Indian rupee edged up by the same amount during this session. While the market sentiment was mostly positive, traders remained uncertain about the Fed’s policy. They are trying to determine how long the US central bank will continue its aggressive tightening. According to the polls, there’s an 80% chance that the agency will deliver a 25-basis point hike at its next meeting.

On Thursday, shares in Jakarta jumped by 0.6%, while stocks in Manila added 0.8%. On the other hand, Singapore shares hit a more than three-week low, plummeting by 0.7%. Property companies suffered the most losses. The authorities raised taxes on private property purchases in the country. This news surprised markets, causing the stocks’ decline.

MUFG noted that investors would have to wait and see whether this policy seriously impacts raising housing prices in Singapore.

South Korean won declined by 0.1% today. It has already shaved off 5.7% during this year. But the Chinese yuan soared.

The post The US dollar fluctuated on Thursday. What about the yen?  appeared first on FinanceBrokerage.

    You May Also Like


    On the surface, index and stock options are very similar. Still, there are some differences that traders should be aware of. Understanding these differences...

    Latest News

    The FBI was not forthcoming with the Trump, Biden and Pence classified documents during a House Intelligence Committee briefing last week, and lawmakers still...

    Editor's Pick

    iBASIS and Sequans have been selected by Actility to meet its delivery schedule for eSIM and iSIM iBASIS and Sequans now considered frontrunners in...


    American Airlines is getting rid of its traditional frequent flyer award chart as the carrier moves toward dynamic pricing for mileage redemptions, the latest shift in its lucrative AAdvantage...

    Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024