Tokyo market slips amid U.S. rate cut speculation and Yen surge
The Nikkei 225 fell by 1.2%, closing at 32,500, while the broader Topix index dropped 0.9%, following similar trends in international markets
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The Nikkei 225 fell by 1.2%, closing at 32,500, while the broader Topix index dropped 0.9%, following similar trends in international markets
With global palm oil prices already under pressure from increased supply and sluggish demand, the strengthening rupiah is squeezing profit margins further.
The MAS’s decision to maintain its current policy stance reflects a cautious approach to managing the Singapore dollar's nominal effective exchange rate.
Against the dollar, the yen climbed 0.7% to ¥152.81, reaching its highest point since May at ¥152.23 earlier in the day.
The CBR attributes this change to the redirection of trade flows towards the East and a shift in settlement currencies to rubles, yuan, and other currencies of countries friendly to Russia.
The Moscow Exchange index tumbled 3.5-4% at the opening of trading on Thursday, with the exchange's shares plummeting by 15%.
"Now no one needs either the dollar or the euro. And this is not only in Belarus and Russia - this is already in many countries," Lukashenko stated, according to state media reports.
At the opening of trading on Wednesday, the Moscow Exchange witnessed fluctuations in major currency exchange rates. The dollar, in particular, experienced a decline of 11.5 kopecks, settling at 89.6 rubles compared to the previous close.