The yen continues its steady decline, approaching levels that triggered intervention in April. AUD/JPY and USD/JPY climb as bond yields offer no support
Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.10% 🇦🇺AUD: -0.0...The Japanese Yen has slowly declined and is now nearing levels that prevailed moments before Japanese officials intervened in the FX market to strengthen the yen back in April. The chart below is an equal-weighted yen index showing the consistent decline in the $62 billion intervention effort.
Japanese bond yields have declined after trading comfortably above the 1% marker although, recently yields have perked up again. As long as the interest rate differential between the US and Japan remains as wide as it is , the yen is always going to be swimming upstream. The weak yen has spurred on a wave of tourists as travelers top 3 million for a third month. The weaker yen however, has not escaped the attention of the country’s top currency official, Masato Kanda. According to Jiji, the official stated there is no limit to the resources available for foreign exchange interventions.The next piece of top tier economic data appears via Japanese inflation in the early hours of Friday.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
USD/JPY clings to gains near 157.00 with eyes on Fed’s policy decisionThe USD/JPY pair trades in a limited range around 157.00 in Monday’s American session.
Read more »
USD/JPY extends upside on firmer US Dollar, all eyes on US CPI, Fed rate decisionThe USD/JPY pair extends the rally near 157.15 during the early Asian trading hours on Wednesday.
Read more »
USD/JPY sticks to modest intraday gains above 157.00 mark, over one-week highThe USD/JPY pair scales higher for the third straight day – also marking the fourth day of a positive move in the previous five – and climbs to over a one-week high, around the 157.25 area during the Asian session on Tuesday.
Read more »
USD/JPY holds steady near 158.00 mark, just below its highest level since late AprilThe USD/JPY pair consolidates around the 158.00 round figure during the Asian session on Thursday and remains well within the striking distance of its highest level since late April touched last week.
Read more »
More bodies found off Libya as NGOs save over 160 migrantsAnother migrant body has been found off the Libyan coast, a day after MSF rescued over 160 people and recovered 11 bodies.
Read more »
Risky bet in this global hydrogen fuel cell maker could net investors 160%, says RBCRBC analyst's price target is the most conservative, as the average of four analysts points to a 282% upside.
Read more »