LONDON—A blast of suspected intervention by the Bank of Japan (BOJ) on Monday to boost the yen did little to tame the dollar, while the pound see-sawed as former finance minister Rishi Sunak emerged as the front-runner to be the next British prime minister. The yen hit a low of 149.70 per dollar overnight before…
Dollar Shrugs Off Suspected Japan Intervention; Pound Eyes UK Politics
Oil Prices Drop as China Demand Data Disappoints
October 24, 2022
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LONDON—Oil prices slid 2 percent on Monday after Chinese data showed that demand from the world’s largest crude importer remained lacklustre in September as strict COVID-19 policies and fuel export curbs depressed consumption. Brent crude futures for December settlement fell $1.67, or 1.8 percent, to $91.83 a barrel by 0855 GMT after rising 2 percent…
Global Shares Mixed After China Economy Slows, Hong Kong Down 6.4 Percent
October 24, 2022
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TOKYO—Global shares were mixed, while Hong Kong’s benchmark plunged 6.4 percent on Monday as dismay over a lack of fresh policy initiatives from a Chinese Communist Party congress overshadowed a report that the No. 2 economy grew at a faster pace in the last quarter. The dollar rose to nearly 150 yen, a day after…
Yen Slides Further to 151 per Dollar, Pound Falls on UK Turmoil
LONDON—The yen was on track for its 10th straight weekly decline against the relentlessly strong dollar on Friday, while sterling fell as political turmoil once again gripped Britain. The dollar gained across the board, also pushing the Swiss franc to its lowest level since May 2019. Investor bets on the U.S. Federal Reserve ratcheting up…
Oil Steadies as Rate Hike Talk Offsets China Demand Hopes
October 21, 2022
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LONDON—Oil steadied on Friday as investors weighed the impact of sharp interest rate rises on energy consumption, offsetting hopes of higher Chinese demand and output cuts by OPEC and its allies. To fight inflation, the U.S. Federal Reserve is trying to slow the economy and will keep raising its short-term rate target, Federal Reserve Bank…
Shares Slide, Dollar Strong as US Yields March Higher
October 21, 2022
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SINGAPORE/LONDON—U.S. Treasury yields held near multiyear highs on Friday, with markets seeing no let-up in tightening from the Federal Reserve, causing shares to slip and the dollar to stay strong, particularly against the embattled Japanese yen. The benchmark U.S. 10-year yield edged up as high as 4.276 percent, its highest level since June 2008, having…
Tesla Seeks to Ease Demand Concerns Over Likely 2022 Delivery Target Miss
Tesla Inc. said on Wednesday it expected to miss its vehicle delivery target this year, but downplayed concerns about softening demand after its revenue missed Wall Street estimates. Chief Executive Elon Musk told analysts on a conference call there was excellent demand in the fourth quarter, addressing investors’ concerns that buyers could be discouraged by…
Oil Rises on Tight Supplies
October 20, 2022
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LONDON—Oil prices rose by more than $1 on Thursday in response to tighter supplies. Brent crude futures rose $1.33, or 1.4 percent, to $93.74 a barrel at 1020 GMT. U.S. West Texas Intermediate crude for November delivery, which expires on Thursday, rose $1.43, or 1.7 percent, to $86.98 per barrel. The WTI contract for December…
Yen Softens Past 150 per Dollar for First Time Since 1990
LONDON—The dollar hit the symbolic level of 150 yen for the first time since 1990 on Thursday as the greenback was supported by Treasury yields trading at multi-year highs, keeping markets on high alert for intervention from Japanese authorities. Moves among other major currencies were muted by recent standards. The euro up 0.5 percent at…
Stocks Sag, Bond Yields Firm as Yen Sinks Further
October 20, 2022
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LONDON—Stocks sagged and bond yields firmed on Thursday as looming central bank rate meetings cast a shadow over largely resilient corporate earnings so far which have failed to dispel downbeat investor sentiment. The strong dollar continued to loom over currency markets, with the yen sinking to a 32-year low against the greenback. Investors braced for…
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