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Japanese retail investors bet on yen reversal, pushing rates to new lows and risking Tokyo intervention.
April inflation rose as expected, keeping markets on edge about rate cuts. Annual core inflation was 2.8%, the same as last month.
The yen hovered near a 38-year low below 160 per dollar. Finance Minister Shunichi Suzuki said authorities would take the necessary actions.
Oil prices fell early on Wednesday in Asia due to unexpected US stockpile jumps, which raised concerns about weaker demand trends.
The yen hit a 34-year low of 160 per dollar on Tuesday, subduing Asian shares. Japan’s Nikkei 225 reached 39,000, its highest since June 11.
The S&P 500 and Nasdaq 100 closed slightly lower Friday, with Nvidia shares declining for a second day, showing signs of big tech exhaustion.
Sterling aimed for a third gain against the Swiss franc on Friday due to BOE and SNB policy divergence, but a sour market mood capped it.
Oil prices dipped Wednesday from seven-week highs as demand optimism and conflict concerns offset a rise in US crude inventories.
French stocks and the euro are volatile as France Euro 2024 star Mbappe calls on young people to get involved in politics.
On Wednesday, EU political turmoil pushed the euro near mid-February lows against the Swiss franc, boosting safe-haven appeal.
The S&P 500 and Nasdaq 100 hit record highs as tech shares surged on AI enthusiasm, with less concern over Fed rate cuts this year.
Gold prices fell Monday as Treasury yields rose. Despite high prices, Asian retail buyers remain keen to purchase more of the precious metal.
Oil prices fell Friday but aimed for their first weekly gain in four weeks, balancing high US interest rates against strong demand outlooks.
Gold prices fell Thursday after an encouraging inflation report and the Fed reducing its rate cut expectations for this year from three to one.
