Yen Weakness and Dollar Strength Continue, Governor Ueda’s Acceleration Unaffected by Minister Suzuki’s Brakes
The USD/JPY has risen to the 155 yen range. After dropping to around 151.86 following last weekend’s U.S. employment statistics, the pair has been on an upward trajectory this week. Today, Governor Ueda of the Bank of Japan stated that “the current yen weakness has not significantly impacted the underlying inflation rate so far.” This […]
Dollar-yen’s upward momentum continues, with the next target being 155 yen.
The dollar-yen and cross-yen pairs are showing strong upward momentum. Following the weaker-than-expected US employment statistics last weekend, the dollar-yen temporarily fell to around 151.86 before ending the week near 153 yen. Yesterday, it rose to around 154 yen, and in today’s Tokyo market, it extended its high to the 154.60 range. Cross-yen pairs are […]
USD/JPY Rebounds to Around 154 Yen, Movements Watched for Possible Additional Intervention
As the week begins, the USD/JPY pair has rebounded to the vicinity of 154 yen. Last week, following two suspected covert interventions by the Japanese government and the Bank of Japan, the pair temporarily dropped to the late 151 yen range after disappointing U.S. employment data, but it recovered towards the close, ending the week […]
Focus on U.S. Employment Data and Subsequent Response by Japanese Financial Authorities
Today, Tokyo’s market is closed for Constitution Day. In Asian markets, following yesterday’s trend, the yen is strengthening. The USD/JPY pair has extended its decline into the 152 yen range, and other yen crosses are also falling. Yesterday’s data from the Bank of Japan suggested that a covert intervention of approximately 3.5 trillion yen was […]
The U.S. FOMC was not as hawkish as expected, leading to a weaker dollar. There were also movements reminiscent of intervention. Tomorrow, amidst thin trading ahead of the weekend, the U.S. employment statistics will be released.
Yesterday, the results of the highly anticipated U.S. FOMC meeting were announced. The policy interest rate was kept unchanged for the sixth consecutive time as expected. The statement added that there has been a lack of further progress towards the 2% target in recent months, which is somewhat hawkish. However, during Chairman Powell’s press conference, […]
Europe Observes Labor Day; Attention Turns to the U.S. FOMC
Today is May 1st, and many markets in European countries are closed for Labor Day (May Day). However, the London market is open, ensuring some liquidity. In London, the only significant event is the release of the final UK Manufacturing PMI (Purchasing Managers’ Index) for April. As we move into New York trading hours, […]
After yesterday’s turmoil, will the USD/JPY pair remain quiet as we check the U.S. and European economic statistics?
Yesterday saw a tumultuous day for the yen, with USD/JPY surging into the 160s before swiftly falling back, apparently pushed down to the 154s by aggressive selling thought to be intervention. Since then, the market has gradually stabilized, now hovering around the late 156s to 157. With the U.S. FOMC meeting starting tomorrow and the […]
Yen Weakness Continues After Bank of Japan Meeting, U.S. PCE Deflator Could Further Accelerate It
The yen continues to weaken. The Bank of Japan’s policy meeting ended as expected, with interest rates unchanged. The statement lacked novelty, leading to further weakening of the yen in the market. The inflation outlook in the outlook report was revised upwards, predicting around 2% for the next three years, but there was no surprise […]
The USD/JPY exchange rate surpassing the 155 yen mark indicates a significant yen depreciation level, with today’s focus on the preliminary US GDP data.
Yesterday in the London market, the USD/JPY exchange rate easily climbed into the 155 yen range. Amid a lack of significant economic data, the rise in US bond yields had been the main driver of dollar buying pressure. Behind this, there seems to be persistent speculation about the delay in the start of interest rate […]
Economic Statistics Influence Dollar Exchange Rate, Yesterday Saw a Pause in Dollar Strength, Today’s Outlook
Yesterday in the NY market, the strengthening of the dollar paused. This reaction was due to the preliminary April PMI values for both manufacturing and non-manufacturing sectors showing weakness. This contrasts with the relatively strong PMI preliminary values from the UK and the Eurozone, leading to a sell-off of the dollar. Some European financial authorities […]