• The U.S. dollar rose against the yen on Tuesday after the Bank of Japan kept rates steady while MSCI’s global stock index was gaining ground as investors focused on the prospect of U.S. interest rate cuts in 2024.
  • The S&P 500 rose to within one percentage point of its all-time closing high reached in January of 2022. MSCI’s gauge of stocks across the globe touched its highest level since late March 2022.
  • The yen lost ground after the Bank of Japan kept its ultra-low interest rates unchanged and maintained its dovish policy guidance, dashing some traders’ hopes it would signal a near-term end to negative interest rates.