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Yen weakens broadly in Asian session, albeit in a subdued market environment due to Japan’s holiday. Despite this, the selloff in the Japanese currency remains relatively contained, with traders vigilant of market intervention by Japan. While 160 level against Dollar is currently considered a floor for Yen, uncertainty persists regarding Japan’s desired exchange rate, which […]

The post Yen Weakens Amidst Subdued Trading, Aussie Up ahead of RBA appeared first on Action Forex.

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Dollar Defies Increasing Rate Cut Expectations, Gains Ground on Risk-Off Sentiment
16/01/2024

Dollar Defies Increasing Rate Cut Expectations, Gains Ground on Risk-Off Sentiment

Dollar rises broadly on risk-off sentiment today, as as Hong Kong stocks led the region lower. The greenback’s strength comes despite growing calls for Fed to initiate policy loosening earlier. Notably, Goldman Sachs has joined this chorus, predicting an initial rate cut as early as March and a total of five cuts throughout the year. […]
Aussie Falters While Dollar Sees Slight Uptick
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Aussie Falters While Dollar Sees Slight Uptick

The picture is pretty much the same through Asian and early part of European session, with the Australian and New Zealand Dollars, alongside the Canadian Dollar, persisting as the day’s underperformers. Swiss Franc has also found itself under pressure, particularly against its European counterparts, aligning with the commodity currencies in their struggle. Conversely, Yen and […]
Euro Edges Up on ECB Hawks’ Comments, But Momentum Limited
15/01/2024

Euro Edges Up on ECB Hawks’ Comments, But Momentum Limited

Euro trades mildly higher today after two known ECB hawks raised skepticism about a near term rate cut. Yet, upside momentum is somewhat tempered by weak trade and production data. Also, Euro is outshone slightly by Dollar, but the latter is also struggling to break out from familiar range other major currencies. Subdued trading could […]