Analysis: Japan is chasing its tail on yen intervention - Doo Prime News
Doo Prime News > Industry Dynamics > Analysis: Japan is chasing its tail on yen intervention

SINGAPORE, Sept 23 (Reuters) – As the Bank of Japan steps into currency markets for the first time in decades to defend a battered yen, it is running into numerous obstacles, chiefly its own stubborn commitment to ultra-easy monetary settings.

Thursday’s sudden burst of yen-buying intervention by Japanese authorities — the first instance since 1998 – caused a large 6 yen move between 140 and 146 in the dollar-yen exchange rate.

Full coverage: REUTERS

Morning Bid: After Manic Week, TGIF

A look at the day ahead in European and global markets from Anshuman Daga

Friday is shaping up as a slow day.

Well, sort of. Equity markets are still licking their wounds, U.S. bond yields are at 11-year highs and the dollar is hovering near a two-decade peak.

Still, investors have probably had enough this week, with the Fed raising rates by 75 basis points as expected but jolting markets with a sobering outlook.

Full coverage: REUTERS

Oil Prices Edge Down, Recession Fears Back In Focus

SINGAPORE, Sept 23 (Reuters) – Oil prices fell on Friday amid recession fears and a stronger U.S. dollar, though losses were capped by supply concerns after Moscow’s new mobilization campaign in its war with Ukraine and an apparent deadlock in talks on reviving the Iran nuclear deal.

Brent crude futures fell 41 cents, or 0.5%, to $90.05 per barrel at 0325 GMT, while U.S. West Texas Intermediate (WTI) crude futures were down 30 cents, or 0.4%, to $83.19.

Full coverage: REUTERS

LG Energy Inks Cobalt, Lithium Supply Deals With Three Canadian Miners

SEOUL, Sept 23 (Reuters) – South Korean battery maker LG Energy Solution (373220.KS) said on Friday it has signed agreements on lithium and cobalt sourcing with three Canadian mining firms in a bid to expand its footprint in North America. 

The Tesla (TSLA.O) supplier said in a statement the agreements were part of an effort to expand mid- to long-term supply contracts with companies that mine and process key battery materials in North America. 

Full coverage: REUTERS

Australia’s Optus Says Up To 10 Mln Customers Caught In Cyber Attack

SYDNEY, Sept 23 (Reuters) – Australian No. 2 telco Optus, owned by Singapore Telecommunications Ltd (STEL.SI), said it will contact up to 10 million customers whose personal details were taken in a “sophisticated” hack, but added no corporate clients were compromised. 

Optus chief executive Kelly Bayer Rosmarin said she was angry and sorry that an offshore-based entity had broken into the company’s database of customer information, accessing home addresses, driver’s license and passport numbers in one of the country’s biggest cybersecurity breaches. 

Full coverage: REUTERS

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