USD/JPY: The move above 130 is likely to establish this as a floor – HSBC USDJPY BOJ Japan BankStocks
broke the closely watched 130 level, the first time in 20 years. This is likely to establish a floor on the pair for now, despite growing signs of anxiety at Japan’s MOF, in the view of economists at HSBC.“The BoJ announced that it will conduct unlimited fixed-rate purchases of 10-year JGBs at 0.25% every business day to defend the YCC target ‘unless it is highly likely that no bids will besubmitted’, instead of on an ad-hoc basis.
“While the move above 130 in USD/JPY looked a little large relative to the shift in the US-Japan yield differentials,Governor Haruhiko Kuroda’s reassertion that a weak yen is overall positive for the economy likely played its part. However, that sentiment seemed less widely held at Japan’s Ministry of Finance . In a slight escalation in tone, a MOF official said ‘recent FX moves warrant extreme concern’ and it will act appropriately on FX if needed.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
USD/JPY meanders around 130.00, waiting for the Fed’s May meetingThe USD/JPY remained comfortable above the 130.00 figure on Monday, as US Treasury yields heightened the day ahead of the Federal Reserve monetary pol
Les mer »
USD/JPY seesaws around 130.00 as Treasury yields refresh four-year high ahead of FOMCUSD/JPY seesaws around 130.00 as Treasury yields refresh four-year high ahead of FOMC By anilpanchal7 USDJPY YieldCurve Fed RiskAppetite Currencies
Les mer »
USD/JPY bears have moved in ahead of the big day, the FedUSD/JPY was on the back foot on Friday and was trading at a low of 129.31 as the pair corrects in a W-formation. For the open, the pair is steady ahea
Les mer »
USD/JPY Forex Signal: Dollar Rising Against Yen Again\u00A5130.50 looks likely to be today\u2019s pivotal point.
Les mer »
Euro Forecast: EUR/USD Selloff Stalls Ahead of Fed Rate DecisionThe Federal Reserve interest rate decision is likely to sway EUR/USD as the central bank is widely expected to normalize monetary policy at a faster pace. Get your weekly Euro forecast from DavidJSong here:
Les mer »
EUR/USD could struggle to recover above 1.0650Looking at the 4-hours chart, the pair tumbled below the 1.0600 level. It even settled below 1.0600, the 200 simple moving average (green, 4-hours), a
Les mer »