The Japanese Yen (JPY) weakened against its US counterpart and reversed part of Friday's recovery from the lowest level since July 23 following Bank of Japan (BOJ) Governor Kazuo Ueda's remarks. Ueda did not signal a December interest rate hike, which seemed to disappoint investors and weighed on the JPY. Moreover, a generally positive risk tone was seen as another factor that dented demand for the JPY as a safe-haven.
However, speculations that the Japanese authorities might intervene in the forex market to support the domestic currency kept JPY bears from placing aggressive bets.
This, along with a subdued US Dollar (USD) price action, might act as a headwind for the USD/JPY pair and cap gains. Traders might also prefer to wait on the sidelines and wait for BOJ Governor Ueda's media conference at 04:45 GMT for some meaningful impetus.
Source: FXStreet
The Australian dollar (AUD) extended its gains for the second straight session on Monday, supported by hawkish comments from Reserve Bank of Australia (RBA) Governor Michele Bullock on Thursday. Bull...
The Australian Dollar (AUD) continued its losing streak against the US Dollar (USD) following the release of key economic data on Thursday. Australian Consumer Inflation Expectations fell to 3.8% in ...
Asian stocks slipped at the open on Friday after risk sentiment faded on Wall Street, following news of bad debts at two US banks that heightened credit market concerns. US index futures also indicated further weakness. Japan, Australia, and South...
The Nikkei Stock Average falls 0.8% to 47885.32 in early trade, tracking Wall Street's declines overnight. The main theme has been risk-off, Commerzbank Research analysts say in a research report. Investors became uneasy about bad loans at two...
Gold climbs in the early Asian session amid safe-haven demand spurred by new credit-fraud fears. Regional banks in the U.S. came under renewed scrutiny Thursday after Zions Bancorp said it would take a large loss and revealed accusations of fraud...
Asia-Pacific markets traded mixed Tuesday, breaking ranks with Wall Street that soared after U.S. President Donald Trump softened his stance on...
Fed Chairman Jerome Powell hinted that the central bank may stop shrinking its balance sheet in the coming months.
The Fed chairman also indicated...
Federal Reserve Chair Jerome Powell on Tuesday delivers his last scheduled remarks before the Fed's next meeting with the economy enjoying...
U.S. President Donald Trump remains on track to meet Chinese leader Xi Jinping in South Korea in late October, U.S. Treasury Secretary Scott Bessent...