Yen’s Sharp Rally Pauses, Japan Declines to Confirm Intervention

Commodity currencies are the main movers in Asian markets today, gaining broadly, albeit against a backdrop of continued weak momentum. This situation unfolds as Chinese stocks carry forward their rebound from earlier this week, showcasing a divergence from Hong Kong’s market dynamics, where signs of profit-taking are beginning to surface. The anticipation surrounding China’s proposed […]

Dollar’s rebound gained some momentum in Asian session today on resurgence of risk aversion. Selloff in Japan was most notable where key industry leaders like Fast Retailing, Nintendo, and Toyota saw substantial declines. The sentiment was further dampened after remarks from BoJ Governor Kazuo Ueda, who reiterated that Yen’s extended weakness might necessitate monetary policy […]

Sterling fell broadly today following weaker-than-expected retail sales data. Despite this, the British currency’s losses have been somewhat contained, indicating a degree of resilience. Concurrently, Japanese Yen and Australian Dollar are showing attempts to recover, but these efforts lack significant follow-through momentum. The day’s activities seem more reflective of temporary consolidations rather than indicative of […]