At the time of writing, the USD/JPY is trading at 134.17, up by 0.54%. The dollar rallied a little bit against the Japanese yen during the US trading session on Wednesday, but it is obvious that the American currency is struggling to shyly hang on to gains later in the …
Read More »What is behind the current Yen’s Strength?
The latest announcement by the Bank of Japan (BOJ) to modify its so-called Yield Curve Control framework immediately created a state of chaos in the currency markets.The announcement by the BoJ at one of the most illiquid times of the day. It also occurred during one of the most illiquid …
Read More »Is it Gold’s Lucky Day After BoJ’s Surprise Decision?
Gold is trading at $ 1818.31 per ounce at the time of writing versus the previous closing price at only $1787.30 on Monday. Gold price is making tracks to the upside despite the Bank of Japan’s surprise relaxation on the yield of its 10-year bonds (JGBs).US Dollar is sinking while …
Read More »GBP/USD Heading to strongest gain in one quarter since 2009
The GBP/USD is approaching a quarterly peak as market emphasis is currently on a test of 1.2080 for the coming sessions.If the bears fail to break this level of support, then a meaningful correction to the upside will be on the cards. The GBP/USD pair is still on the backside …
Read More »GBP/JPY declines to lowest level since September
The Japanese Yen is soaring across the board after the Bank of Japan’s rate decision. The GBP/JPY pair cross is losing more than 700 pips on Tuesday amid rallying yen following the BoJ’s monetary policy announcement. BoJ’s rate decision also raised the upper range of its yield curve control of …
Read More »Markets’ Weekly Recap, October 24-28
The yen fell on Friday as the Bank of Japan stuck to its accommodative policy. At the same time, the dollar attempted to recover from losses at the weekend on expectations that the Federal Reserve would signal a slowdown in interest rate hikes. The dollar was last up 0.8 percent …
Read More »BoJ Preview: Forecasts from nine major banks
The Bank of Japan will announce its monetary policy decision on Friday, October 28 at 03:00 GMT and as we get closer to the release time, nine major banks have released their expactations on the looming decisionJapanese main interest rate will likely be left at -0.1%, despite inflation standing at …
Read More »Markets’ Weekly Recap, October 17-21
Japan’s government and central bank intervened in the currency market early Saturday to support the retreating yen, triggering a dramatic rebound against the dollar after the Japanese currency had reached a fresh 32-year low of nearly 152 against the dollar.Finance Ministry Vice Minister Masato Kanda told reporters he would not …
Read More »USD/JPY highest since June 1990s
The Japanese yen has hit a new 32-year low. One major question among investors and traders now is: Will the BoJ intervene again this week?The yen has declined nearly 30% against the dollar this year already as the divergence between the US Federal Reserve’s hawkish stance and the Bank of …
Read More »Market Drivers – US Session 22/09/22
Recession seems inevitable as stubbornly high inflation plus the escalation of the war forced policymakers’ hands. Stocks fell, while US government bond yields soared to fresh multi-year highs.Major central banks announced monetary policy decisions following the US Fed’s meeting for September with the Bank of Japan firstly, on Thursday, deciding …
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