Yen Wipes Out Friday’s Gain as Market Focus Returns to Yield Gap
Mon, May 6, 2024 1:49 PM

Yen Wipes Out Friday’s Gain as Market Focus Returns to Yield Gap

A Flip by Riya Sharma
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The currency was down 0.5% at 153.76 per dollar in Asian trading on Monday. That’s after jumping as much as 1.2% in the last session, when surprising softness in US jobs and wage gains last month prompted traders to bring forward interest rate cut bets for the Federal Reserve. The yen whipsawed in the past week, weakening beyond 160 per dollar for the first time since 1990 in late April.

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