FOREX-Euro at Three-Month Low, Yen Under Pressure

October 23, 2024, 06.54 PM | Source: Reuters
FOREX-Euro at Three-Month Low, Yen Under Pressure

FOREX - LONDON/TOKYO. The dollar climbed above 152 yen for the first time since late July on Wednesday and pushed the euro to an over three-month low, supported by expectations the Fed won't rush to cut rates and investors bracing for a potential Trump election victory.

The U.S. currency was last up 1.1% on the yen at 152.82, its highest since July 31, the day the Bank of Japan raised interest rates to their highest in 2007, and, incidentally, gave global markets a sharp jolt.

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