by Kevin Buckland
TOKYO (Reuters) – It was near a 32-year high above 149 yen on Tuesday, although it reduced its rally against other major currencies as traders braced for a possible new intervention from Tokyo to support their own. currency.
The Australian dollar rose after the minutes of the last Reserve Bank of Australia meeting revealed that the decision to slow the pace of interest rate hikes to a quarter point instead of a further half point rise was “precisely balanced. “.
The New Zealand dollar also rose after a report on consumer prices indicated a larger-than-expected rise, which reinforced expectations for further policy tightening.
The US currency reached 148,855 yen after hitting 149.10 late in the evening for the first time since August 1990. This puts the key psychological barrier of 150 in the spotlight.
At the same time, the dollar index, which measures the performance of the US currency against the six major currencies, including the yen and the pound, fell, approaching its lowest level in a week and a half, as the European currencies thanks to a sharp turn related to the withdrawal from the tax cut plan in Great Britain.
It has strengthened 3 percent since October 5, when it sustainably broke the 145 barrier after spending around two weeks hovering near it, as traders shivered after the Bank of Japan’s first intervention to buy the yen from 1998 on September 22.
It fell to $ 1.1349, after rising 1.6% on Monday and hitting $ 1.144 for the first time since October 5.
Jeremy Hunt, who was appointed chancellor on Friday by British Prime Minister Liz Truss, scrapped much of the £ 45bn ‘mini-budget’ that sparked market turmoil, sent the pound to historic lows and forced the Bank of England to intervene to stem the collapse of the bond market.
The euro broke down at $ 0.9838, having previously hit its highest level since October 6 (EGX 🙂 at $ 0.9853.
The Australian dollar rose 0.14 percent to $ 0.630, receiving support after the minutes of the Reserve Bank of Australia meeting on October 4 showed that the decision to slow the pace of sudden policy tightening was “precisely balanced. “.
The New Zealand dollar jumped 0.57% to $ 0.567 after a report showed that consumer price inflation was still hovering near a three-decade high in the third quarter.
(Prepared by Doaa Muhammad for the Arabic Bulletin)
