USD/JPY (JPY=X)
- Bloomberg
The Year’s Big Yen Short Set for a Dramatic U-Turn in 2023
(Bloomberg) -- The world’s worst-performing major currency looks poised for an impressive turnaround in 2023 as its two key drivers -- a hawkish Federal Reserve and a dovish Bank of Japan -- swap places in the eyes of some investors.Most Read from Bloomberg‘Huge, Missing and Growing:’ $65 Trillion in Dollar Debt Sparks ConcernEx-Deutsche Bank Trader Builds $6 Billion Fortune on Trading BoomThird Russian Airfield Hit by Drone as Moscow Accuses UkraineStocks Hit by Fed-Hike Jitters as US Yields Su
- Reuters
FOREX-Dollar gains on pound and yen after upbeat U.S. services data
The dollar rose against the pound and the yen on Monday after data showed that U.S. services industry activity unexpectedly picked up in November, prompting speculation the Federal Reserve may not be able to pivot to slower rate rises imminently. The Institute for Supply Management (ISM) said its non-manufacturing PMI increased to 56.5 last month from 54.4 in October, indicating that the services sector, which accounts for more than two-thirds of U.S. economic activity, remained resilient in the face of rising interest rates. The survey followed on the heels of data last Friday showing stronger-than-expected U.S. job and wage growth in November.
- Reuters
FOREX-Dollar steadies after recent falls, gains on pound and yen
The pound and Japanese yen edged off multi-month highs against the dollar on Monday as traders, investors and analysts started to speculate whether the greenback's recent bout of weakness was coming to an end. The dollar climbed 0.7% on the yen to 135.27, bouncing from Friday's three-and-a-half month low of 133.62, while sterling, which hit a more than five month top of $1.2345 in Asian trade Monday, dropped at much as 0.5% to $1.2233 in European hours. Trading has become choppier in recent weeks as the dollar rolled down from the multi-decade highs it reached against most peers earlier in the year, boosted by an aggressive sequence of Federal Reserve interest race increases, as investors started to hope the Fed's December meeting will mark the start of a slower pace of hikes.
