Forex Markets Lack Clear Theme; Yen Rebounds Briefly, EUR/GBP Resumes Downtrend

The Japanese Yen has taken a significant hit today, losing ground against all major currencies after BoJ refrained from detailing an immediate plan to taper its bond purchases. In the lead-up to the announcement, expectations were high among traders and investors that BoJ would begin tapering soon, fueled by multiple media reports. However, the central […]

Dollar weakened broadly overnight after the latest JOLTS report showed significant drop in job openings, hitting the lowest level since January 2021. Economists are increasingly worried that the US labor market is cooling not just to pre-pandemic levels but potentially beyond. Such outlook could raising the possibility that the Federal Reserve may need to act […]

Yen weakened broadly in Asian session today, reversing some of its robust since the previous week. This shift in momentum comes amid tempered expectations for an imminent BoJ rate hike at next week’s meeting. Japanese Finance Minister Shunichi Suzuki’s comments that the country is not yet ready to declare victory over deflation, despite positive signs […]