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Dollar Eases as Biden Ends Re-election Bid, Drops Vs Yen
The dollar eased slightly against a basket of currencies on Monday while dropping sharply versus the yen as investors focused on U.S. President Joe Biden's decision to end his re-election campaign and the next moves from the Federal Reserve and the Bank of Japan.
Forex Today: Mixed Opening to Week as Markets Assess US Political Developments
The US Dollar (USD) struggles to find demand at the beginning of the week, while US stock index futures trade in positive territory. Federal Reserve Bank of Chicago's National Activity Index for June will be the only data featured in the US economic calendar on Monday. Meanwhile, investors will keep a close eye on political developments in the US after President Joe Biden announced on Sunday that he is withdrawing from the 2024 Presidential election.
Dollar Edges Lower After Biden Withdraws From Presidential Race
0654 GMT - The dollar edges lower following U.S. President Joe Biden's decision Sunday to pull out of November's presidential race and endorse Vice President Kamala as the Democratic Party's nominee.
Nikkei Falls 1.2%, Dragged by Electronics, Heavy Industry Stocks -- Market Talk
Japanese stocks end lower, dragged by falls in electronics and heavy industry stocks, as uncertainty continues about the Bank of Japan's policy outlook.
Bank of Japan suspected market intervention, rare large-scale withdrawal of short-selling camp by hedge funds for over ten years.
During the week ending on July 16, the net short positions of Japanese yen in leveraged funds decreased by 38,025 contracts, the largest reduction since March 2011.
Japanese Yen Declines Despite Rising Odds of BoJ Raising Interest Rates
The Japanese Yen (JPY) remains weak on Monday, extending its losing streak to a third consecutive session.