Logo-color Logo-white

Yen reverses some of yesterday’s gains after cautious comments from BoJ Governor Kazuo Ueda, which highlighted that Japan is “not there yet” to reach the long-sought-after sustainable inflation rate of 2%. Ueda’s perspective starkly contrasted with the more hawkish tones of Board Member Hajime Takata, who has advocated for beginning discussions on exiting the ultra-loose […]

The post Markets Respond to BoJ’s Dual Tone, Yen Pares Gains While Nikkei Soars appeared first on Action Forex.

previous

Dollar Softens Mildly as Inflation Matches Forecasts, Yen Rally Loses Steam

next

Eurozone Inflation Surprises Support Euro, ECB’s Holzmann Urges Patience on Policy

Read More

Yen Traders Exercise Caution Ahead of BoJ
18/12/2023

Yen Traders Exercise Caution Ahead of BoJ

Japanese Yen is extending its broad-based pullback today. This movement appears to be a strategic response from traders lightening their positions in anticipation of the upcoming BoJ policy decision. Although a rate hike by the BoJ seems highly unlikely at this stage, there is speculation about potential adjustments in the central bank’s communication. These changes […]
Commodity Currencies Weaken; Focus on AUD/JPY Ahead of Australia and Japan Data
08/01/2024

Commodity Currencies Weaken; Focus on AUD/JPY Ahead of Australia and Japan Data

In today’s relatively subdued markets, the notable development is weakness in commodity currencies, led by Australian Dollar. This decline comes amid a drop in oil prices following Saudi Arabia’s decision to cut official selling prices across all regions. Additionally, precious metals have softened in response to rebound in global benchmark treasury yields. The downward trend […]
Aussie Dips Following RBA, With Loonie and Kiwi Also Impacted by Risk Aversion
05/12/2023

Aussie Dips Following RBA, With Loonie and Kiwi Also Impacted by Risk Aversion

Today’s Asian session saw broad decline in Australian Dollar, along with New Zealand and Canadian Dollars. This pattern suggests a shift towards risk aversion among investors, a sentiment echoed by the performance of major Asian stock indexes. Hong Kong stocks, in particular, continued their recent down trend, reaching new lows due to disappointing earnings results […]