Japan did not succeed in spending 62 billion US dollars to boost the yen, and the yen exchange rate dilemma is difficult to solve

The yen exchange rate dilemma is difficult to resolve, and the Bank of Japan is now in a dilemma. On Friday May 31, Japan's Ministry of Finance released data showing that in order to support Japan's continued weakness, the Japanese government carried out two significant monetary interventions between April 26 and May 29, investing a record 9.8 trillion yen (about 62 billion US dollars). Most of the capital was spent within four days starting April 29. However, the impact of this huge amount of money invested by Japan on the exchange rate was short-lived. At the end of April, the exchange rate of the US dollar against the yen rose from 160 to 151.85, but just a few days later, the exchange rate on Friday fell back to 1

wallstreetcn14:59 ET

Eurozone CPI rebounds to 2.6% year on year in May as ECB considers cutting interest rates next week

Expectations of interest rate cuts declined further after the data was released. The Eurozone money market now prices that the ECB will cut interest rates by less than 55 basis points in 2024, while before the inflation data was released, it was about 57 basis points.

wallstreetcnMay 31 05:39 ET

EUR/JPY Extends Its Downside Below 170.00, German Retail Sales Arrive Weaker Than Expected in April

EUR/JPY extends the decline near 169.78 in Friday’s early European session

FXStreetMay 31 02:56 ET

Japan's Tokyo inflation rebounded in May, providing favorable prospects for interest rate hikes!

Consumer prices excluding fresh food in Tokyo rose 1.9% in May, according to data released by Japan's Ministry of Home Affairs on Friday. Tokyo's inflation data is usually a major indicator reflecting national trends. This indicates that the national inflation data released next month may experience a similar acceleration, causing the Bank of Japan to basically consider the possibility of interest rate hikes in the next few months.

FX678 FinanceMay 31 01:47 ET

Japan's Suzuki: Important for Currencies to Move in Stable Manner Reflecting Fundamentals

Japanese Finance Minister Shunichi Suzuki said on Friday that “it is important for currencies to move in a stable manner reflecting fundamentals.”

FXStreetMay 31 01:34 ET

Tokyo's Core Inflation Slows Slightly to 1.9% in May

Tokyo's core consumer price index, which excludes perishables, rose 1.9% year over year in May after a 1.6% increase in April, data from the Statistics of Japan on Friday showed.

MT NewswiresMay 30 21:37 ET