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The USD/JPY currency dropped 2.1% overnight and traded as low as 157.43, fueling speculation that Japanese authorities may have intervened to amplify the impact of the dovish US inflation data.
In currency trading, the U.S. dollar inched down to 152.23 Japanese yen from 152.55 yen. The euro cost $1.0394, down from $1.0407. AP Business Writer Stan Choe contributed.
The Aussie hovered near a more than one-week low at $0.7103, having lost 1.8 percent in the previous session, its largest percentage decline in more than a year. "We have a clear trading range for ...
The future exchange rate is reflected into the forward exchange rate stated today. In our example, the forward exchange rate of the dollar is said to be at a discount because it buys fewer Japanese yen in the forward rate than it does in the spot rate. The yen is said to be at a premium. UIRP showed no proof of working after the 1990s.
Upon the reversion of Okinawa to Japan in 1972 the Japanese yen then replaced the dollar. In light of the dollar's reduction in value from ¥360 to ¥308 just before the reversion, an unannounced "currency confirmation" took place on October 9, 1971, wherein residents disclosed their dollar holdings in cash and bank accounts; dollars held that ...
The market convention is to quote most exchange rates against the USD with the US dollar as the base currency (e.g. USDJPY, USDCAD, USDCHF). The exceptions are the British pound (GBP), Australian dollar (AUD), the New Zealand dollar (NZD) and the euro (EUR) where the USD is the counter currency (e.g. GBPUSD, AUDUSD, NZDUSD, EURUSD).
The latest jaw-boning came a day after the yen hit a fresh 20-year low against the dollar and a seven-year trough against the euro on expectations the Bank of Japan (BOJ) will continue to lag ...
The Australian dollar (sign: $; code: AUD; also abbreviated A$ or sometimes AU$ to distinguish it from other dollar-denominated currencies; [2] [3] and also referred to as the dollar or Aussie dollar) is the official currency and legal tender of Australia, including all of its external territories, and three independent sovereign Pacific Island states: Kiribati, Nauru, and Tuvalu.