Japanese Yen Weakness Stands Out, USD/JPY Hits 1-Year High, GBP/USD in Strong Trends; Stocks Weaken in Asia; RBA Minutes \u2018Finely Balanced\u2019
Markets are focusing on Forex today as the trade-weighted Japanese Yen continues to fall, reaching a new 20-year low yesterday. attracting interest from trend traders on the long side
. The weakness of the Yen is fuelled by its strongly divergent central bank which continues to pursue an extremely accommodative, dovish monetary policy, and is likely to continue. Asias stock markets have continued to weaken on the news there will be no Chinese monetary stimulus any time soon. The Hang Seng Index ending the day down by more than 1%. US stock index futures have also declined slightly. China worries have also hit demand for The Reserve Bank of Australia released the minutes of its most recent policy meeting, revealing the Bank is “finely balanced” over whether to pause rates or continue hiking.
The release seems to have weakened the Australian Dollar which has been the weakest major currency over the Asian session, while the Euro is the strongest, putting
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