NY Market Summary (26th) Rapid rise in yen, stock price rise, yield decline
7/27/2024 6:48 AM GMT+9 (some excerpts)
＜Exchange＞ The dollar has hardly changed. In response to the June personal consumption expenditure (PCCE) price index announced on this day, investors believe that the path to September monetary easing by the US Federal Reserve (FRB) has become clear.
The dollar index fell 0.04% to 104.29.
The June PCE price index rose 2.5% from the previous year. It slowed from 2.6% in the previous month, and became the smallest increase in the past 4 months.
The dollar/yen, which has been showing significant movements recently, fell 0.1% to 153.77 yen due to last-minute trading. The yen surged to a high of 151.945 yen the day before, 1 dollar = 151.945 yen for the first time in about 3 months, but the drastic rise came to an end on this day.
The Bank of Japan and the FRB will hold a policy decision meeting on the same July 30-31. The US Federal Open Market Committee (FOMC) anticipates that it will remain unchanged, but it is believed that there is a possibility that the Bank of Japan will carry out hawkish policy changes. The market incorporates the possibility that the Bank of Japan will raise interest rates by 10 basis points to 64%.
The dollar index fell 0.04% to 104.29.
The June PCE price index rose 2.5% from the previous year. It slowed from 2.6% in the previous month, and became the smallest increase in the past 4 months.
The dollar/yen, which has been showing significant movements recently, fell 0.1% to 153.77 yen due to last-minute trading. The yen surged to a high of 151.945 yen the day before, 1 dollar = 151.945 yen for the first time in about 3 months, but the drastic rise came to an end on this day.
The Bank of Japan and the FRB will hold a policy decision meeting on the same July 30-31. The US Federal Open Market Committee (FOMC) anticipates that it will remain unchanged, but it is believed that there is a possibility that the Bank of Japan will carry out hawkish policy changes. The market incorporates the possibility that the Bank of Japan will raise interest rates by 10 basis points to 64%.
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