The currency saw its sharpest daily drop in more than two years.
The yen plunged after Japan’s new prime minister, Mr Shigeru Ishiba, said the economy isn’t ready for another interest rate hike from the central bank.- The yen plunged after Japan’s new prime minister, Mr Shigeru Ishiba, jolted currency markets by saying the economy is not ready for another interest rate hike from the central bank.
Against the Singapore currency, the yen was trading little changed at 113.2490 as at 4.45pm Singapore. Now, with the BOJ likely to hold off on rate hikes that might undercut the new administration, the outlook for the Japanese currency is souring.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Foreigners turn net sellers of Japanese stocks for 2024 on concerns over yen strengthForeigners pulled out of Japanese stocks for a sixth successive week through Sept. 21, due to lingering concerns over a stronger yen and increased caution ahead of the Bank of Japan's monetary policy decision.Overseas investors withdrew a massive 1.93 trillion yen ($13.
Read more »
Japanese Syndicate Leaders Laundered Funds, Hid In SingaporeA syndicate head accused of laundering 70 billion yen in Japan had a home in Singapore and served as director of a local software firm. Sotaro Ishikawa, who fled Japan in February, led the Rivaton Group, along with several others who were appointed directors of companies here. The group systematically set up shell companies in Japan to launder funds from scams and illegal gambling.
Read more »
Former KTPH COO Yen Tan is next NKF CEOThe National Kidney Foundation (NKF) will have a new chief executive on Feb 1, 2025. Ms Yen Tan, 54, will be the CEO-designate from Oct 1, before becoming CEO in 2025. In a statement on Sept 6, the organisation said Ms Tan had previously served as the chief...
Read more »
Markets on tenterhooks ahead of key US jobs data, yen jumpsSYDNEY :Asian shares struggled for direction while the yen jumped on Friday, as investors remained on tenterhooks ahead of U.S. jobs data that could decide the size and speed of coming rate cuts in the world's largest economy.
Read more »
Donnie Yen receives World Outstanding Chinese AwardHong Kong action star Donnie Yen has added another feather to his cap with a World Outstanding Chinese Award. The 61-year-old posted on social media on Sept 8 snippets of the award ceremony held in Hong Kong and photos of his trophy. The award was established by Hong...
Read more »
Japan's Next Prime Minister Faces Geopolitical ChallengesAs Japan prepares for its next prime minister, the candidates' views on foreign policy and defense raise concerns about potential shifts in the country's diplomatic stance. Some contenders advocate for nuclear weapons or closer ties with NATO, which could strain relationships with China and other neighbors.
Read more »