USD/JPY consolidates below 155 amid Yen weakness – BBH
Source Fxstreet
USD/JPY is consolidating yesterday’s sharp gains with the next major resistance offered at 155.00, BBH FX analysts report.
BOJ neutral stance limits support for Yen slide
"Japan Finance Minister Satsuki Katayama warned against excessive yen moves. Katayama said 'We’ve recently seen very one-sided and rapid currency moves…The government is closely monitoring excessive or disorderly movements in the foreign exchange market, including those driven by speculative moves, with a high sense of urgency'."
"Katayama’s warning on yen volatility rings hollow. A more hawkish Bank of Japan (BOJ) yesterday would’ve done more to support JPY. Instead, the BOJ’s laid-back policy stance means any intervention will only slow, not stop the yen’s slide. The BOJ would be throwing good money after bad."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Euro zone inflation slowed a touch in October and continued to hover near the European Central Bank's 2% target, confirming the bank's message that the economy remains on the relatively benign path it projected earlier.
The Euro appreciates for the fourth consecutive day against a weaker Pound, with price action showing consolidation around the 0.8800 area on Friday's early European session, on track for a 0.8% weekly rally.
Amazon shares jumped nearly 12% in premarket trade on Friday after strong growth at its cloud unit and a bullish sales outlook eased fears that the tech giant was falling behind rivals in the AI race.
Here is what you need to know on Friday, October 31:
GBP/USD inches higher after three days of losses, trading around 1.3160 during the Asian hours on Friday.
Related Instrument
