Yen Holds Near 7-Month High at 153.65 per Dollar as Brent Approaches $100
Updated
Updated · CNBC · Sep 9
Yen Holds Near 7-Month High at 153.65 per Dollar as Brent Approaches $100
3 articles · Updated · CNBC · Sep 9
Summary
The yen steadied at 153.65 per dollar, near Tuesday’s seven-month high of 152.89, while the dollar index hovered at 98.15, close to a two-week low.
Brent crude rose 1.48% to $99.37 after Houthi strikes on Saudi cities, U.S. attacks on Iranian oil tankers and an Iranian strike on a U.S. base in Jordan widened Middle East tensions.
A 4% yen rally this month has been driven by expectations of faster BOJ tightening, possible repatriation by Japanese investors and Washington’s preference for a stronger yen.
Markets widely expect the BOJ to raise rates by 25 basis points on Sept. 17-18, but analysts said the yen’s next leg will also depend on Friday’s U.S. inflation data and the Fed path.