The dollar had a rough start to the week, falling to a seven-month low against a basket of significant rivals in Asian trade before stabilizing. The yen was in special focus since traders were betting that the Bank of Japan would further modify its yield control strategy. The dollar index (DXY), which measures the value […]
Following the Bank of Japan’s (BoJ) unexpected second-in-a-day bond purchase operation, the USD/JPY pair continued to fall from the Asian session into the late North American session. The yen is trying to end a losing streak against the dollar that has lasted five days. In an effort to limit yields, the Bank of Japan announced […]
In an unexpected decision on Tuesday, the Bank of Japan allowed long-term interest rates to climb more, shocking the Japanese yen (JPY) and financial markets and attempting to offset some of the costs of sustained monetary stimulus. following the announcement, the USD/JPY pair slumped to the 130.99 mark, 4.2% lower on the day. This was […]
This morning, the USD/JPY pair ended its week-long descent after bouncing off support near the 138.50 level. The pair has gained about 120 pips, wiping off the losses from yesterday. As markets processed the release of the bearishly skewed FOMC minutes, yesterday’s decline got tantalizingly close to its most recent low print around 137.60. Tokyo’s […]
In bumpy trading on Tuesday, the U.S. dollar (USD) moved higher, building on previous gains ahead of a crucial inflation report later this week that is anticipated to indicate stubbornly high price pressures. While investors were uneasy due to concerns about increasing interest rates and geopolitical issues, the dollar’s attitude overall remained strong. Meanwhile, the […]
The Japanese yen (JPY)’s woes continued through the recently concluded week as it weakened further against its major counterparts. This weakness has been the yen’s theme for most of 2022 as the Bank of Japan (BoJ) remains unwilling to adopt a more hawkish stance in the wake of record inflation, like other central banks. Given […]
As the Japanese yen continues to fall, a Bank of Japan (BoJ) policymaker recently asserted that it was wrong to change its monetary policy in favor of the exchange rate of the single currency. This statement was revealed by a summary of opinions from the April meeting, which snuffed hopes of a rate hike intervention […]
