Yen Strengthens Further; Sentiment Toward Currency Has 'Materially' Shifted
Dow Jones09-08 08:10
0010 GMT - The yen strengthens further against the dollar and other currencies in early Asian trade. Sentiment toward the Japanese yen has shifted "materially" over the past week, CBA's Samara Hammoud says in a research report. This reflects "speculation about a potential change in the Government Pension Investment Fund's asset allocation and rising expectations of faster Bank of Japan rate hikes," the international economist and currency strategist says. The U.S. dollar falls 0.4% to 153.76 yen after earlier touching Y153.58, its lowest intraday level since mid-February, LSEG data show. The Australian dollar slips 0.4% to Y110.98.
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