The Tokyo Stock Exchange falls

The Tokyo Stock Exchange fell on Wednesday in the wake of Wall Street before a decision by the American Central Bank (Fed), while investors monitored the yen, with several media reporting that the Japanese authorities intervened on Monday to support it. The flagship Nikkei index lost 0.76% to 38,114.19 points around 01:00 GMT, and the broader Topix index fell 0.87% to 2,719.25 points.

The New York Stock Exchange ended lower on Tuesday, weighed down on the eve of a monetary decision by the Fed by several indicators including the employment cost index, growing faster than expected in the first quarter. “Amid a flood of alarming data, bullish sentiment (from Wall Street) was hit hard (by this index)the Fed’s preferred measure of wage inflation, which has potentially dashed any hopes of a rate cut in 2024.commented Stephen Innes in a note from SPI Asset Management.

Participants in the foreign exchange market also kept their eyes glued to the price of the yen, which was falling again after having rebounded sharply on Monday. Several media outlets claim, based on the balance of payments of the Bank of Japan (BoJ), that this sudden rise is due to an intervention by the Japanese authorities to support the national currency, which several Japanese officials have refused to confirm.

Oil in decline

The dollar stabilized at 157.76 yen around 01:00 GMT, compared to 157.80 yen on Tuesday at 21:00 GMT. The euro fell to 168.21 yen against 168.31 yen the day before, and quoted at 1.0663 dollars against 1.0666 dollars on Tuesday.

On the oil market, a barrel of American WTI lost 0.98% to $81.13 after 00:50 GMT and a barrel of Brent from the North Sea dropped 0.86% to $85.59.