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Japanese Yen – Market News

Yen Falls After BoJ Admit Defeat on Inflation and Can’t Stop Australian Dollar as Currency Approaches 0.80 vs. USD

Categories: AUD, EUR, JPY, Markets, News, NZD, Travel Money, USD
Officials at the Bank of Japan (BoJ) said today that they were pushing back the time frame for achieving their 2% inflation target to the end of 2019, marking yet another defeat in the bank’s long-term battle against deflation. When the target was introduced by BoJ Governor Haruhiko Kuroda in 2013, it was forecast that it would be achieved in 2015, but four years later, with the prevailing inflation and ‘core’ inflation rates in Japan at 0.4% and 0.0% respectively, there is little sign that the inflation outlook is improving. View article >

When Non News is News

Categories: AUD, CAD, EUR, GBP, JPY, Markets, News, NZD, USD
Summer markets are in full-swing.  There wasn’t any data of note in Asia or Europe and the uncertainty surrounding Thursday’s European Central Bank meeting left currencies in narrow ranges. Bloomberg published an article about the ECB “studying stimulus plan’s according to “unnamed sources” who said that it doesn’t mean a stimulus change is imminent.  News about non-news. USDJPY traded sideways in a 111.89-112.22 range which left the downtrend intact.  View article >

Singapore Dollar Lower on GDP Miss, At 3 ½ Month Low Versus Australian Dollar

The Singapore dollar fell on Friday morning following worse than expected GDP data. Singapore’s Ministry of Trade and Industry said that the economy expanded 0.4% in the second quarter, which equates to annualized growth of 2.5%. These numbers fell short of the market forecasts for 1.1% and 2.8% for quarterly and annualized growth respectively. Singapore’s economy performed significantly better in the second quarter than in the first, in which the economy contracted by 1.9%. View article >

Korean Won Holds Yellen-Inspired Gains After Interest Rate Decision

The Korean won gained nearly 1% against the US dollar yesterday and by doing so recorded its best day since April. USD/KRW ended the New York session at 1137.4. The move took the won’s 2017 gain against the dollar to 6%. Against the euro, the won gained 1.4% – its best day since November – but the currency remains weak by recent standards and remains down on the year having suffered in the presence of a broad euro uptrend which began in April. View article >

A Strong Baht Concerns Thailand’s Exporters, Currency Reaches 17-Month High Versus Yen

Thailand’s baht remains one of Asia’s best performing currencies this year. Against the US dollar, the baht has gained more than 5% in 2017 and is now buying $0.029, putting it back at 2015 levels. Against the Japanese yen, although the baht has gained only half as much in percentage terms as it has against the dollar, today’s rate of ¥3.346 marks a seventeen-month high in the baht’s buying power. View article >

Yen Falls for Fourth Consecutive Week as BoJ Works to Drive Rates Down, Says Will Buy an “Unlimited” Number of JGBs

The Bank of Japan (BoJ) are in a battle to maintain extreme levels of monetary policy stimulus – a battle which, to win, must necessarily weaken the Japanese yen. On Friday, the yen locked in its fourth consecutive weekly loss against the US dollar, its seventh such loss against the New Zealand dollar, and it fell to a seventeen-month low against the euro. View article >

Taiwan Dollar Rally Is Set to End, Says Survey

By rallying 6.5% against the US dollar in the first half of the year, the Taiwan dollar so far claims the crown of 2017’s best performing Asian currency. The Taiwan dollar’s rally is likely to have ended however, according to the results of a Bloomberg survey of foreign exchange traders who were asked their views on the year-end USD/TWD exchange rate. View article >

Will the RBA Follow Hawkish Lead Set by Other Central Banks?

At 04:30 GMT on Tuesday, traders will learn the latest decision on interest rates by Australia’s central bank, the Reserve Bank of Australia (RBA). The decision will also be accompanied by a statement from the bank. While rates are expected to be unchanged at their record low of 1.5%, there is a sense of anticipation ahead of today’s meeting given the surprisingly hawkish undertones in the rhetoric coming from other central banks in recent weeks. View article >

Yen Falls Intra-Day After Japan’s Ruling Party is Crushed in Tokyo Election

With all votes counted, it has been confirmed that Japan’s ruling party, the Liberal Democratic Party (LDP), has been crushed in Sunday’s Tokyo Metropolitan Assembly (TMA) election. The TMA is the prefectural parliament of Tokyo and its members are elected every four years. The LDP, who are led by Japanese Prime Minister Shinzo Abe, won just 23 seats in the assembly, in comparison with Tokyo Citizens First who together with its allies won 79 seats. View article >

Australian Dollar at 3-Month High, Receives Second Boost in as Many Days as Iron Ore Leaps Back Above $60

The Australian dollar rose early on Thursday to three-month highs of 0.7665 versus the US dollar and 86.0 versus the yen as the currency benefitted from a second piece of good news in as many days, this time from the commodities markets. Yesterday on, we reported on the market stirring comments from former RBA board member and renowned Australian economist John Edwards, who said that eight interest rate hikes by the RBA across 2018 and 2019 were “distinctly possible,” and that tightening of monetary policy could start earlier than markets expect given the improved outlook for the global economy. View article >
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