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NHK WORLD reports Yen strengthens as stocks decline after Powell’s comments


In a recent article by NHK World, it was reported that the Japanese yen strengthened and global stocks fell in response to remarks made by US Federal Reserve Chairman, Jerome Powell. The yen gained ground against major currencies such as the US dollar and the euro, reflecting investor concerns about the economic impact of rising interest rates.

Powell’s comments on the US economy’s recovery from the pandemic and the likelihood of inflationary pressures leading to interest rate hikes caused a sell-off in global stock markets. Major indices such as the S&P 500 and the Dow Jones Industrial Average experienced significant losses, with tech stocks particularly affected.

Investors also reacted to news that the Bank of Japan would be reducing its purchases of exchange-traded funds (ETFs). This decision contributed to the yen’s strength, as it signaled a potential shift in the central bank’s monetary easing policies.

The overall market sentiment was one of caution and uncertainty, with many investors opting to reduce their exposure to riskier assets in favor of safer havens such as the yen. The heightened volatility in the markets is expected to persist as investors assess the potential impact of rising inflation and interest rates on global economic growth.

In conclusion, Powell’s remarks have had a profound impact on both currency and stock markets, with the yen gaining ground and stocks falling as investors digest the implications of potential interest rate hikes. The uncertainty surrounding the future direction of monetary policy and its effect on economic growth is likely to continue shaping market sentiment in the coming weeks.

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