Dollar down against yen

AFP, TOKYO: The dollar declined against the yen yesterday with traders unmoved by a better-than-expected jump in US jobs and manufacturing while analysts doubted the Bank of Japan’s ability to weaken its currency.
Official figures Friday showed non-farm payrolls soared in March and factories ramped up their activity, the latest sign that the world’s top economy is getting back on track.
However, analysts said it was not impressive enough that the Federal Reserve will revise its view that interest rates will not go up before June.
The US central bank in December lifted rates for the first time in nearly a decade and attention has turned to the pace and timing of future hikes.
The BoJ has been going the opposite direction. Having already embarked on a massive bond-buying stimulus, in January it introduced a negative interest rate aimed at stimulating lending.
But the move was criticised as a sign of desperation as bank policymakers run out of effective measures to boost stalling growth and inflation.

 

Dollar down against yen

AFP, TOKYO: The dollar declined against the yen yesterday with traders unmoved by a better-than-expected jump in US jobs and manufacturing while analysts doubted the Bank of Japans ability to weaken its currency. Official figures Friday showed non-farm payrolls soared in March and factories ramped up their activity, the latest sign that the worlds top economy is getting back on track. However, analysts said it was not impressive enough that the Federal Reserve will revise its view that interest rates will not go up before June. The US central bank in December lifted rates for the first time in nearly a decade and attention has turned to the pace and timing of future hikes. The BoJ has been going the opposite direction. Having already embarked on a massive bond-buying stimulus, in January it introduced a negative interest rate aimed at stimulating lending. But the move was criticised as a sign of desperation as bank policymakers run out of effective measures to boost stalling growth and inflation.