Dollar rises vs yen while stocks gain on rate optimism

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Key Points

New York (Reuters) -The U.S. dollar rose against the yen on Tuesday after the Bank of Japan kept rates steady while MSCIs global stock index was gaining ground as investors focused on the prospect of U.S. interest rate cuts in 2024...

The yen lost ground after the Bank of Japan kept its ultra-low interest rates unchanged and maintained its dovish policy guidance, dashing some traders hopes it would signal a near-term end to negative interest rates...

U.S. Treasury yields edged lower but held above multi-month lows reached last week as investors continued to monitor comments from Federal Reserve officials for indications on when the U.S. central bank is likely to begin cutting interest rates...

Earlier on Tuesday the pan-European STOXX 600 index closed up 0.36% after European Central Bank member Francois Villeroy de Galhau said interest rates should be lowered in 2024 and that inflation should return to the ECBs 2% target by 2025 at the latest...

In precious metals, gold prices firmed as U.S. dollar and Treasury yields slipped, while investors strapped in for U.S. economic data due this week that could provide more clarity on the Feds interest rate path...

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