Yen Hits 4-Year Low Versus Euro After BOJ Governor’s Speech

22 November, 2013

The yen remained under pressure in Friday’s Asian session after being pushed lower by Bank of Japan Governor Kuroda who appeared before the Japanese “Diet Committee” to talk about monetary policy. 

He reiterated the Bank of Japan’s commitment to undertake necessary policies to fight deflation. Such policies tend to have a weakening effect on the yen.

The yen fell to a four-year low against the euro in early Asian session trading, and touched a four-month low versus the US dollar. EURJPY hit a session high of 136.54 yen before ending the session at 136.19 while USDJPY peaked at 101.34.

The dollar is expected to remain firm against the yen due to expectations of Fed tapering early next year, and maybe even sooner. Helping boost dollar against yen was Thursday’s US jobless claims data which surprisingly fell by 21,000 to a seasonally adjusted 323,000, beating expectations for a decline of 9,000.

EURUSD traded in a range in Asia between $1.3462 and $1.3488, held steady after comments by ECB Chief Mario Draghi’s who dampened prospects of negative interest rates when he spoke yesterday. Draghi will be speaking again today so markets will be watching closely.

GBPUSD hit a high of 1.6204 in Asia, supported by Thursday’s strong UK factory orders data. 

The Aussie extended lower today to $0.9166 after yesterday’s sell-off was initiated by comments from RBA Governor Glenn Stevens. He said yesterday that he was open to currency intervention to weaken what he believes is a high Australian dollar exchange rate.


Source link  
Aussie declines despite shrinking Australian trade deficit

The Asian session was calm as the economic calendar was light and most investors were positioning ahead of key risk events later this week, primarily the US nonfarm payrolls report on Friday...

USD/JPY slips as Nikkei falls in risk-off market after disappointing China PMI data

The first full trading week of 2014 began today, with Japan opening for the first time after a two-week holiday...

Technical Analysis On Major Currencies By FXNET

The pair extended the positive trading, whereas it approached 61.8% correction at 1.3625


Euro Hits Fresh 1-Month High After German Inflation Data

The dollar rose above 102.00 yen for the first time since May 29, while the euro flirted with the key $1.36 handle and hit a new four-year high within striking distance of 139.00 yen...

Aussie Powers Through & Dollar Hits New 6-Month High Against Yen

The best performing currency during Thursday’s Asian session was the Australian dollar which jumped against its US counterpart after strong Australian business spending data. Private Capital Expenditure increased by 3.6% quarter-on-quarter despite expectations for a decline by 1.1%...

Sterling and Euro Outperform Vs US Dollar

The main currency of the day was the sterling which outperformed against the dollar and euro, as well as against the yen after being boosted by strong UK second quarter growth data...


Euro Steady Around $1.35

The euro was stronger today particularly against the dollar and the pound. While there were no economic data releases today from the Eurozone to explain the move, there were some headline news which affected sterling and dollar...

Yen Up Against Dollar After Weak US Data

The yen was supported by safe haven demand today after the release of a slightly dovish Bank of Japan policy meeting minutes. The minute from last weeks meeting showed some concern about Japans economic outlook and whether the central bank 2% inflation target could be met...

EUR/JPY Hits A New 4-Year High

The dollar remains bullish against the yen, while the euro hit a new four-year high against the Japanese currency in todays Asian session...

  


Share: