Market attention on the direction of the Japanese yen, with the US dollar slightly rising on Wednesday Gold rose 0.74% and recorded three consecutive positive days on the daily chart

28 Mar, 2024

Market attention on the direction of the Japanese yen, with the US dollar slightly rising on Wednesday Gold rose 0.74% and recorded three consecutive positive days on the daily chart

On Wednesday (March 27th), the US dollar index fluctuated narrowly above the 104 level and eventually closed flat at 104.29. The benchmark 10-year US Treasury yield remained above the 4.2% mark, closing at 4.228%, while the 2-year US Treasury yield, which is most sensitive to the Federal Reserve's policy rate, closed at 4.583%. The USD/JPY rose to its highest level since 1990, reaching 151.97 in intraday trading. Japan's three major financial institutions held an emergency meeting but did not make any actual intervention, and the US and Japan fell more than 50 points in response before rebounding.

Gold prices rose 0.74% on Wednesday (March 27th), recording three consecutive positive days on the daily chart, as investors generally expect the Federal Reserve to start cutting interest rates in June.

Despite an unexpected surge in EIA crude oil inventories, both oils have continued to rise. WTI crude oil started to rise during the European session on Wednesday (March 27th) and remained stable above $81, ultimately closing up 0.53% at $81.65 per barrel; Brent crude oil closed up 0.47% at $85.64 per barrel on Wednesday (March 27).

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