- Palestinians call for Israeli ban as Gaza war spills into football
- Crisis-ridden Boeing hopes for quiet annual meeting
- Vienna Festival director Milo Rau hits back at anti-Semitism accusations
- China says could buy up commercial housing to boost property market
- Rapidus 'last opportunity' to put Japan back on global chip map
- Despite Western pressure, China in no hurry to reduce Russia support
- For sale: unique piece of land in strategic Arctic archipelago
- La Rochelle in the spotlight as tight Top 14 run-in commences
- Three key issues to watch for in La Liga this weekend
- Departing Hayes urges Chelsea to seize 'second chance' in WSL race
- Leverkusen eye 'immortality' as Union fight for final day survival
- Klopp leaves lasting legacy after restoring Liverpool to elite
- Putin in trade push on final day of China trip
- Timberwolves crush Nuggets to stay alive in NBA playoffs
- Taiwan president takes office under close scrutiny
- Israel to hit back at 'genocide' claims at UN top court
- Chinese officials meet to mull support for developers: Bloomberg
- 'Hindu nation': Religion trumps caste in India vote
- Asian stocks mixed after Wall St, Europe retreat from records
- Taiwan's Lai to bolster 'porcupine' defence against China threat
- Dominican Republic to vote in poll dominated by Haiti crisis
- The Dominican Republic: from Columbus to cruise ships
- Forced to give birth after rape, Honduran woman seeks UN remedy
- Reddit gives OpenAI access to its wealth of posts
- Turkey court jails Kurdish leader for 42 years over 2014 unrest
- US plans to end leasing in its largest coal-producing region
- Kim's sister denies N. Korea exporting weapons to Russia
- Schauffele equals record-low major round with 62 to lead PGA
- Alternate Lee seizes opportunity to grab LPGA Americas Open lead
- Swiatek to face Sabalenka for Rome title and Serena record
- Mystik Dan goes for Triple Crown 2nd leg in Preakness
- 'Grand Theft Auto VI' release set for late 2025
- Global coral bleaching event expanding to new countries: scientists
- US Republicans confront Biden over pausing arms to Israel
- Lopez double earns Barca win at relegated Almeria
- Weather eases Canadian oil sands city wildfire menace
- Messi's record $20.4 million salary dwarfs entire MLS teams
- Jarry stuns Tsitsipas to reach Rome Open semi-finals
- US ends leasing in its largest coal-producing region
- Chad junta chief officially wins election
- Florida slammed for bill striking climate change from state law
- Exhibition traces Jewish origins of Hollywood
- 'I'm ready': Fury to pray for Usyk before heavyweight clash
- Murray's French Open build-up suffers Bordeaux glitch
- Ethiopian legend Bekele returns to Olympics after 12 years
- McIlroy passes emotional test to stay in hunt for PGA win
- Coppola's long-awaited epic 'Megalopolis' divides Cannes
- Ukraine battles to hold back Russia advance
- Kante returns from wilderness as Deschamps announces France Euro squad
- Superb Schauffele plays his best with hunger to end win drought
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)
E.Schubert--BTB