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Investing com |Editor Venkatesh Jartarkar
Published Nov 10, 2023 03:20 PM ET
The Japanese yen’s devaluation sped up today, bordering closer to its highest degree in 33 years, amidst signals from Federal Reserve Chair Jerome Powell that rate of interest rate hikes can proceed despite consistent rising cost of living issues. The yen traded at 151.44 to the buck, a limited boost of 0.06% from the previous session.
On Thursday, Powell repeated a hawkish position on rate of interest, testing market assumptions that had actually prepared for rate cuts in 2024. His remarks highlighted questions concerning getting to the Fed’s 2% rising cost of living target with the existing plan structure, motivating a change in market forecasts for a possible mid-2024 rate cut from June to July.
This position has actually added to the yen’s worst efficiency because …
