Dollar runs at 152 against Japanese yen

Asian shares are up today, with the Nikkei rising 1.6 per cent and the yen weakening against major currencies, Reuters reported on Thursday.

The threat of intervention has limited the dollar to 152.00 yen, prompting investors to sell the yen against other currencies.

The Canadian dollar also reached a 16-year high against the Japanese yen, supported by the ongoing increase in oil prices.

Oil prices are rising, boosting copper to a 13-month high and gold to over $2,300 an ounce.

China’s support for auto trade-ins and reduced down payments may be driving copper prices up, while gold is seeing momentum fund and CTA buying after breaking $2,072 resistance.

Concerns about global debt are driving demand for limited-quantity assets like cryptocurrencies.

OPEC+ maintained output cuts at their meeting, which could impact inflation and consumer costs.

The Fed is monitoring price increases, with expectations of rate cuts in June. Fed officials will share their views on rates on Thursday.

Market expectations for rate cuts have shifted, with a focus on the pace and extent of cuts. Longer-term Treasury yields are rising, indicating a higher neutral rate for US rates.

Event risks include Janet Yellen’s visit to China and European PMIs and producer prices data.