Forex

Investing.com - The U.S. dollar retreated from near six-month highs after Fed Chair Jerome Powell confirmed the central bank's easing bias, raising the likelihood of a more aggressive dollar selloff ahead. However, Barclays still sees the potential for more dollar upside.

“Parts of the market worry that - like in late 2023 - the bar is too high for further dollar strength. We argue this time things are quite different,” analysts at Barclays said, in a note dated May... (continue reading...)

Investing.com - The U.S. dollar stabilized Thursday after a sharp overnight drop in the wake of Fed Chair Jerome Powell ruling out any rate hikes, while the Japanese yen was volatile amid intervention talk.

At 06:00 ET (10:00 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.1% higher at 105.645, after falling 0.6% overnight. 

The Federal Reserve kept interest rates unchanged at the... (continue reading...)

Investing.com-- The Japanese yen weakened sharply on Thursday, seeing limited resilience amid what appeared to be repeated intervention in currency markets by the government, as the specter of high U.S. interest rates persisted. 

The USDJPY pair- which gauges the amount of yen needed to buy one dollar- rose 1% to 156 in late-morning trade, after sliding as low as 153 on Wednesday.

While a sharp drop in the dollar also factored into some of the yen’s recent... (continue reading...)

Investing.com-- Most Asian currencies kept to a tight range on Thursday, taking little advantage of a drop in the dollar as the Federal Reserve said interest rates were unlikely to fall in the near-term, although they were also unlikely to rise. 

This kept a rebound in the Japanese yen short-lived, with the currency weakening sharply after seeing strong gains on Wednesday. Traders said the yen’s rebound this week appeared to be driven by government intervention in... (continue reading...)

By Karen Brettell

NEW YORK (Reuters) - The yen was slightly stronger on the day on Thursday after a sudden rally late on Wednesday that traders an analysts attributed to intervention by Japanese authorities, while the dollar was also broadly higher.

The sharp move in the yen on Wednesday came in a quiet period for markets after Wall Street had closed, and hours after the U.S. Federal Reserve had wrapped up its policy meeting.