OctaFX | OctaFX Forex Broker
সাইন-ইন
অ্যাকাউন্ট খুলুন
Back

Forex Flash: Aftermath of G20 takes yen lower – Deutsche Bank

After a lively week for currencies, ending with the G20's fairly tame communiqué on avoiding exchange rate misalignments, the USD/JPY is again making strong gains overnight as markets take the G20's somewhat benign statement as a green light for further yen depreciation.

The yen has extended its losses against the dollar in overnight trading, trading 0.4% weaker against the USD and adding to Friday's -0.67% depreciation. Fresh headlines in Tokyo overnight have helped take the USD/JPY briefly above the 94.00 level while the Nikkei is trading 2.1% higher.

According to Macro Strategy Analysts J. Reid and C. Tan at Deutsche Bank, “Speaking in parliament in Tokyo overnight, the Japanese PM hinted that buying foreign bonds is a monetary policy option and the law governing the BoJ could be revised if it fails to get results.” Abe also added that it is the norm for governments to dictate a price target to the country's central bank.

Forex: USD/JPY goes under 94.00

Having reached its Asian session peak at 94.22, the USD/JPY has been consolidating today's gains around the 93.90/94.00 area, +0.50% higher on the day. The USD/JPY is strong on Monday after Japan's PM Shinzo Abe remarks before the Parliament, considering the removal of BoJ's independence in case the central bank misses the 2% inflation target.
আরও পড়ুন Previous

Forex: EUR/USD back around 1.3355/60

The bloc currency is trading back to the comfort zone around 1.3360 on Monday, ahead of ECB’s Draghi speech due in the European afternoon. ...
আরও পড়ুন Next
Start livechat