Forex
Yen Tumbles Amid Strait of Hormuz Disputes and US Rate Expectations
The Japanese yen continued its decline against major and minor currencies on Thursday, nearing a two-week low as investors favored the US dollar amid tensions over the Strait of Hormuz.
Market expectations suggest that the Bank of Japan may raise interest rates by 25 basis points in September, with attention turning to upcoming economic data for clues on inflation and economic activity.
The US Dollar Index rose 0.1% on Thursday, reflecting continued strength against a basket of global currencies.