OctaFX | OctaFX Forex Broker
Entrar
Abrir conta
Back

Forex Flash: What currency war? - OCBC Bank

Comment Emmanuel Ng of OCBC Bank notes that G10 currencies scattered in differing directions on Wednesday while the JPY was anchored to the dollar ahead of the BOJ meeting today and the G20 meeting this weekend even as global monetary officials continued to comment on the yen.

He notes that the Russian deputy finance minister stated that the yen had been over valued while the BOE’s King cautioned that the recent G7 statement should be taken at face value. Elsewhere, Ng notes that Canadian Finance Minister Flaherty also indicated that the G7 statement was not meant to single out Japan. In addition, the ECB’s Nowotny noted late Wed that there was no need to act on currencies.

Looking at price action, Ng notes that GBP was a stark under performer after the BOE’s King warned of a protracted recovery while also adding that the MPC was prepared to undertake more stimulus measures if needed. On other fronts, he notes that the antipodeans regained some ground against the dollar on cited short covering. On other fronts, the SEK jumped after the Riksbank kept its benchmark rate unchanged at 1.00%, in contrast to prior expectations for a cut. Looking ahead, Ng writes, “Going ahead, markets may continue to bounce around in recent ranges with investors also not expecting the BOJ to radically depart from its current stance. Expect markets to continue to focus its energies instead on the probable replacement for governor Shirikawa and the implications for monetary policy.”

Forex Flash: GDP report and BoJ meeting have limited impact upon yen – BTMU

Lee Hardman, FX analyst at the Bank of Tokyo Mitsubishi UFJ notes that the yen has remained relatively stable in the Asian trading following a pick up in yen volatility earlier this week initially following the release of the G7 statement on currencies.
Leia mais Previous

Forex Flash: What lies ahead of EUR/USD? – UBS, Commerzbank and BTMU

El dólar australiano prueba la zona media de 1.0300 hoy jueves, operando el territorio negativo al tiempo que la aversión al riesgo se adueña lentamente de la sesión....
Leia mais Next
Começar chat ao vivo