- 'Sleeper agent' bots on X fuel US election misinformation, study says
- Death toll rises to 109 after Haiti gang attack, official says
- Tigers beat Guardians and on brink of advancing in MLB playoffs
- Argentina MPs back Milei's veto of university funding
- Man City sink Barca in Women's Champions League as Bayern outgun Arsenal
- Greek international Baldock, 31, found dead in pool: state agency
- Florida seaside haven a ghost town as hurricane nears
- Pharrell Williams to co-chair Met Gala exploring Black dandyism
- Wall Street indices hit fresh records as Chinese shares tumble
- Taiwan's president to deliver key speech for National Day
- Sea row on the menu as ASEAN leaders meet China's Li
- Injured Kane won't start England's Nations League clash with Greece
- Discord seen as online home for renegades
- US forecasts severe solar storm starting Thursday
- Mozambique starts tallying votes in tense election
- Zelensky moves to court European leaders in drive for military aid
- Ratan Tata: Indian mogul who built a global powerhouse
- Rodgers rejects 'false' suggestions of role in Saleh dismissal
- One dead as storm Kirk tears through Spain, Portugal, France
- Indian business titan Ratan Tata dead at 86
- Lebanon facing 'catastrophic' situation as 600,000 displaced: UN
- US warns Israel not to repeat Gaza destruction in Lebanon
- Musk's X returns in Brazil after 40-day showdown with judge
- Call her savvy? Harris unleashes unconventional media blitz
- Lucian Freud 'masterpiece' fetches £13.9 million at London sale
- SoFi Stadium to hold next two CONCACAF Nations League finals
- McIlroy and DeChambeau set for PGA-LIV 'Showdown' in Vegas
- Fed minutes highlight divisions over rate cut decision
- Steve McQueen debuts new WWII film at London festival
- Run blitz edges India and South Africa closer to World Cup semi-finals
- Zelensky to court European leaders in drive for military aid
- Israel captain says 'difficult' to focus on football in time of war
- Macron to host Ukraine's Zelensky after meeting Ukrainian troops
- Root says 'many more to get' after England Test runs landmark
- India pile up World Cup high to rout Sri Lanka
- One year later, Israeli hostage family learns of loss
- Texans receiver Collins, Pats' safety Peppers out for NFL clash
- Biden-Netanyahu talk as Hezbollah, Israeli forces clash
- Musk's X available again in Brazil after 40-day ban
- Reddy stars as India crush Bangladesh to clinch T20 series
- Nobel winners hope protein work will spur 'incredible' breakthroughs
- What are proteins again? Nobel-winning chemistry explained
- Arch rivals Ghana, Nigeria drawn together in CHAN qualifying
- AI steps into science limelight with Nobel wins
- Trump lauds India's Modi as 'total killer'
- Wall Street, Europe rise as Chinese shares tumble
- Hunkering down for Hurricane Milton at Disney -- but first, a few rides
- Reddy, Rinku power India to 221-9 in second Bangladesh T20
- Overshooting 1.5C risks 'irreversible' climate impact: study
- Time running out in Florida to flee Hurricane Milton
Yen slips after rallying on suspected intervention, stocks mixed
The yen weakened Thursday following another surge against the dollar that fuelled speculation Japanese authorities had intervened for a second time this week, after Federal Reserve boss Jerome Powell warned interest rates would stay higher for longer.
Powell's remarks, however, were tempered by his assurance that borrowing costs would not likely be hiked again, soothing worries in some quarters that the bank's battle to bring inflation back to its two percent target would need to be stepped up.
While US traders were spooked by the prospect that rate cuts were still some time off, analysts said the Fed had been less hawkish than feared.
The Fed also said it would slow down the pace at which it shrinks its balance sheet -- having bought up vast amounts of bonds previously to keep rates low -- which eased upward pressure on Treasury yields.
The comments came after a string of data at the start of the year saw inflation come in above expectations, while the economy and labour market remain in rude health.
"The statement and news conference should not come as a surprise to investors," said Tai Hui at JP Morgan Asset Management.
"Recent Fed speech has acknowledged the lack of progress on inflation and the desire to maintain the current level of policy rates for longer.
That said, it does seem clear the committee remains biased to cut rates, but any policy easing will be determined by how inflation develops over the next few months.
"While inflation seems sticky, it’s not 'sticking' at a level that is causing a surge in wages, eroding consumption, or lifting inflation expectations, comfortably putting stagflation fears to rest."
Soon after the announcement, the yen soared around three percent to 153.04 per dollar, causing suspicion that Japanese officials had stepped into forex markets. It was sitting above 156 Thursday in Asia.
A rally on Monday -- after the yen hit a new 34-year low of 160.17 -- led to similar speculation.
The government was tight-lipped on whether it had bought yen, though Masato Kanda, Japan's top currency official, told Bloomberg News intervention data would be disclosed at the end of the month.
Bloomberg analysis of central bank accounts suggested that Monday's move was likely an intervention by Tokyo worth around $35.4 billion.
"It would certainly appear to have the characteristics of an intervention," Nathan Thooft, of Manulife Investment Management, said.
"Repeated attempts certainly send a message to the market and while it may not fully hold, it should have some impact on preventing further meaningful weakness."
Equity markets were mixed in early Asian trade as investors returned from a midweek holiday.
Hong Kong resumed its rally to rise for an eighth day, while Tokyo, Sydney and Singapore were also up.
However, Seoul, Taipei, Manila and Jakarta fell, with Wellington flat.
Oil bounced slightly, having tumbled more than three percent Wednesday on data showing US stockpiles ballooned last week by the most since February.
The commodity has also come under pressure from hopes for a ceasefire in the Middle East conflict, with US top diplomat Antony Blinken urging Hamas to accept a Gaza truce plan.
The Islamist group has said it will respond "within a very short period" to a plan proposed by mediators to halt the fighting for 40 days and exchange dozens of hostages for many more Palestinian prisoners.
- Key figures around 0230 GMT -
Tokyo - Nikkei 225: UP 0.1 percent at 38,299.71 (break)
Hong Kong - Hang Seng Index: UP 1.4 percent at 18,011.60
Shanghai - Composite: Closed for a holiday
Dollar/yen: UP at 156.04 yen from 155.18 yen on Tuesday
Euro/dollar: DOWN at $1.0716 from $1.0719
Pound/dollar: UP at $1.2534 from $1.2523
Euro/pound: DOWN at 85.52 pence from 85.54 pence
West Texas Intermediate: UP 0.4 percent at $79.31 per barrel
Brent North Sea Crude: UP 0.4 percent at $83.75 per barrel
New York - Dow: UP 0.2 percent at 37,903.29 (close)
London - FTSE 100: DOWN 0.3 percent at 8,121.24 (close)
A.Mahlangu--AMWN