Previous Close | 40,762.73 |
Open | 40,324.42 |
Volume |
Day's Range | 40,054.06 - 40,482.02 |
52 Week Range | 27,427.66 - 41,087.75 |
Avg. Volume | 120,449,122 |
The FTSE and European stocks were higher on Thursday despite official figures confirming that the UK fell into a recession in the second half of 2023.
Japan's currency is plumbing three-decade lows. + The main culprit of weakness in the last couple of years is the interest-rate gap between the U.S. and Japan. + A big gap encourages carry trades, in which investors borrow in yen and invest in higher-yielding dollar assets.
Betting on a stronger yen became a popular trade during the past two years as the Bank of Japan prepared to end eight years of negative interest rates amid rising inflation. **He thinks the weakness of the yen will continue to fuel inflation**, forcing the Bank of Japan to continue raising interest rates.