The Japanese yen strengthened against the dollar following hints of a potential rate hike by the Bank of Japan. The central bank also reduced its monthly bond purchases. Traders are cautious due to U.S. economic policies and inflation concerns. Japan’s Finance Minister reiterated concerns over the sliding yen, hinting at possible intervention to stabilize the currency.
Nifty rally not sustainable on few big names, broader participation essential: Rahul Ghose of Hedged.in
The December weekly closing formed a neutral candle, reflecting indecisiveness in the market due to the holiday season. Short-term support is around 23,200–23,300, with potential
December 29, 2024