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Australian Dollar surged broadly in Asian session following a much stronger-than-expected monthly CPI report, sparking speculation that RBA might return to rate hikes in August. Comments from a top RBA official also indicated that the central bank is vigilant about upside risks to inflation. The upcoming inflation reports for June and the more critical Q2 […]

The post Strong Inflation Boosts Aussie, Euro Struggle Returns appeared first on Action Forex.

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Yen Hits 37-Year Low Against Dollar, Japan to Intervene or Not?

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Japan’s Inaction and Refrained Rhetoric Lead to Speculation on New Intervention Threshold
24/06/2024

Japan’s Inaction and Refrained Rhetoric Lead to Speculation on New Intervention Threshold

Yen recovered mildly in quiet Asian session along with the Swiss Franc, driven by mild risk aversion in the region. Despite this uptick, there is no strong indication of a significant rebound for the Japanese currency following its sharp decline last week. Notably, Japan did not utilize the thin liquidity at the beginning of the […]
Dollar Gains on Risk-Off Mood: Mixed China Data and Japan Earthquake Drive Cautious Trading
02/01/2024

Dollar Gains on Risk-Off Mood: Mixed China Data and Japan Earthquake Drive Cautious Trading

Dollar gains modest ground in Asian session today, driven by mild risk-off sentiment. Mixed data emerging from China’s PMI manufacturing sector has cast a shadow over market sentiment, contributing to a tepid start in Hong Kong’s stock market. The HSI index is grappling with the aftermath of its fourth consecutive year of losses, as a […]
Yen Decline Persists, Pound Eyes UK Wage Data
14/05/2024

Yen Decline Persists, Pound Eyes UK Wage Data

Yen’s decline persisted in Asian session, continuing to reverse its strong gains from earlier in the month. Traders seem confident that Japan will not intervene as long as Yen remains above 160 level against Dollar, with no apparent determination to push it through 150. This range appears to be set for the near term. Japan’s […]