Michael Hewson

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Bank of Japan Intervenes in Foreign Exchange Markets After Yen Slips to 24-Year Low

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While the greenback has been rising higher, the Japanese yen tapped a 24-year low and Japan decided to intervene in foreign exchange markets (forex) for the first time since 1998. Reports say the Bank of Japan conducted the first forex intervention in 24 years, after the Japanese central bank kept its benchmark bank rate suppressed … Read more

Fed’s Vice Chair Says Tapering May Happen in 2021, Senator Joe Manchin ‘Alarmed Over Record Amount of Stimulus Injections’

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The U.S. central bank’s vice chairman Richard Clarida explained on Wednesday that the Federal Reserve could begin tapering large asset purchases this year. Also, that the first interest rate hike since the onset of Covid-19 could happen in 2023. Meanwhile, despite members of the Fed saying inflation will be transitory, corporate bosses from some of … Read more