In international financial markets on the morning of 24 August, the U.S. dollar fluctuated near its lowest level in several months, while gold reached a three-month high. The Nikkei Stock Average ended trading slightly higher.
In foreign exchange markets, the U.S. dollar continued to fluctuate in early-week trading, while market concerns remained over the expansion of long-term Treasury buybacks. The Canadian dollar fell 0.2% immediately after the open to C$1.3798 per U.S. dollar, amid the impact of retaliation over tariff measures involving the United States. The Australian and New Zealand dollars traded at $0.7171 and $0.5979, respectively, just below their three-month highs. The euro was firm at $1.1685, while the Japanese yen traded above ¥159 per U.S. dollar. Gold traded at approximately $4,627 per ounce, a three-month high, while strong growth in the U.S. services sector helped curb dollar selling.
In equity markets, the Nikkei Stock Average edged higher, while AI-related stocks came under selling pressure. With NVIDIA's earnings release approaching, semiconductor-related stocks were in focus. Tokyo Electron rose, while Fujikura and SoftBank Group fell. In gold markets, prices rose again against a weaker U.S. dollar, and attention was focused on the Federal Reserve Chair's speech later this week.
Rising long-term yields and the expansion of the Treasury's long-term bond buybacks were seen by markets as factors affecting volatility in downward pressure on the U.S. dollar, while an Australian strategist said the sentiment was helping stabilize the Australian dollar. In Japan, expectations of an interest-rate hike have resurfaced ahead of the Bank of Japan's next meeting.