The yen hit a year-high against the dollar

2024-09-11
Summary:

On Wednesday, the yen surged to its highest level this year against the dollar after Harris and Trump debated ahead of the November election.

EBC Forex Snapshot, 11 Sep 2024


The yen hit its highest since the start of the year against the dollar on Wednesday after US presidential contenders Harris and Trump traded barbs in the only scheduled debate before November's election.


The yen received an additional boost from BOJ board member Junko Nakagawa, who reiterated on Wednesday that interest rates will keep rising if the economy and inflation move in line with its forecasts.

USDJPY

Harris attacked high tariffs on foreign goods, a proposal she has likened to a sales tax on the middle class. Trump criticised Harris for persistent inflation during President Joe Biden's term.

Citibank vs. HSBC Currency Pair Data Comparison

Citi (as of 2 Sep) HSBC (as of 11 Sep)

support resistance support resistance
EUR/USD 1.0832 1.1202 1.0955 1.1142
GBP/USD 1.2860 1.3266 1.2995 1.3215
USD/CHF 0.8333 0.8827 0.8382 0.8549
AUD/USD 0.6659 0.6871 0.6586 0.6770
USD/CAD 1.3420 1.3792 1.3493 1.3673
USD/JPY 141.70 149.39 140.40 145.83

The green numbers in the table indicate that the data has increased compared with the previous time; the red numbers indicate that the data has decreased compared with the previous time; and the black numbers indicate that the data has remained unchanged.


Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.

The yen dipped to its lowest level in nearly two months

The yen dipped to its lowest level in nearly two months

The dollar rallied on strong US jobs data and escalating Middle East conflict, while the yen fell to its lowest level in nearly two months.

2024-10-07
Eurozone Inflation Dropped to 1.8% Last Month

Eurozone Inflation Dropped to 1.8% Last Month

The dollar gained support Thursday as the Fed is not expected to cut interest rates soon, while the euro stayed near a three-week low.

2024-10-03
The Yen Stabilized Mid-Range Last Month

The Yen Stabilized Mid-Range Last Month

The US dollar rallied Tuesday as Fed Chair Powell rejected expectations for large rate cuts, while the yen steadied mid-range.

2024-10-01
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EBC Financial Group is a co-brand shared by a group of entities including:
EBC Financial Group (SVG) LLC is authorized by the St.Vincent and the Grenadines Financial Services Authority(SVGFSA),and the company registration number is 353 LLC 2020. with registered address at Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines.
Other Relevant Entities
EBC Financial Group (UK) Limited is authorised and regulated by the Financial Conduct Authority. Reference Number: 927552. Website: www.ebcfin.co.uk
EBC Financial Group (Australia) Pty Ltd (ACN: 619 073 237) is authorised and regulated by the Australian Securities and Investments Commission (Number: 500991). EBC Financial Group (Australia) Pty Ltd is a related entity of EBC Financial Group (SVG) LLC. The two entities are managed separately. The financial products and services offered on this website are NOT provided by the Australian entity and no recourse against the Australian entity is available.
EBC Financial Group (Cayman) Limited is licensed and regulated by the Cayman Islands Monetary Authority (Number: 2038223). Website: www.ebcgroup.ky
Business Address: The Leadenhall Building, 122 Leadenhall Street, London, United Kingdom, EC3V 4AB. Email Address : [email protected]. Telephone : +44 20 3376 9662
Disclaimer: EBC Financial Group explicitly does not participate in any cryptocurrency activities or offer Crypto Contracts for Difference (CFDs). Our financial services solely pertain to traditional instruments. Clients are advised that any references to crypto-related services using the EBC name are inaccurate and unauthorized. Any reference to past performance is not indicative of future performance. The information contained in this website is provided for reference only and does not constitute any investment advice.
Regional Restrictions: EBC does not offer any services to citizens and residents of certain jurisdictions including: Afghanistan, Belarus, Burma (Myanmar), Canada, Central African Republic, Congo, Cuba, Democratic Republic of the Congo, Eritrea, Haiti, Iran, Iraq, Lebanon, Libya, Malaysia, Mali, North Korea (Democratic People's Republic of Korea), Russia, Somalia, Sudan, South Sudan, Syria, Ukraine (including Crimea, Donetsk, and Luhansk Regions), the United States, Venezuela, and Yemen. For more information, please check out our FAQs.
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