Asia FX weak, dollar near 3-yr low on trade war fears; yen soars on haven demand

Federal Reserve’s Upcoming Decision: Markets are split on whether the Fed will cut rates by 25 or 50 bps. Key data releases from China, Japan, the UK, and the US will shape market sentiment and potentially set the tone for Q4 2024. The DXY is nearing a critical support level, and its direction could determine…

The US dollar reversed course last week, shaking off earlier weakness and surging towards the 105 level on the back of positive employment data. Optimism about a potential rate cut by the Federal Reserve (Fed) quickly faded as the nonfarm payrolls report came in significantly higher than expected, defying weaker leading indicators released earlier in…

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The Japanese Yen (JPY) sticks to the post-Bank of Japan (BoJ) losses, which, along with a broadly firmer US Dollar (USD), assists the USD/JPY pair to hold steady above the 156.00 mark, or an over one-week high. As was widely expected, the BoJ board members raised the short-term interest rate by 25-basis-point (bps) to 0.75%,…