Yen firms after Saudi attacks

Yen firms after Saudi attacks

16 Sep 2019 12:34 PM

The dollar fell while safe-haven yen rallied on Monday, following an attack on Saudi Arabian refining facilities that disrupted global oil supply and heightened Middle East tensions.

The safe-haven Japanese yen firmed. The yen rose 0.3% to 107.79 per dollar. Against a basket of currencies, the dollar edged lower to 98.16.

Beyond oil, currency markets are awaiting the outcome of central bank meetings in the U.S. and Japan this week and economic data in Australia and New Zealand that could determine the rates outlook in the Antipodes.

As for the Bank of Japan's policy decision on Thursday, a third of economists polled expect stimulus to be ramped up. But sources say it may be a close call as policymakers wait till the last minute to assess market reaction to the Fed's decision hours earlier. Japanese markets are closed on Monday for a public holiday.

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