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Yen’s near term rebound gained momentum again today, supported by BOJ Governor Kazuo Ueda’s persistent messaging about a potential rate hike at next week’s policy meeting. Ueda’s repeated remarks are interpreted as laying the groundwork for markets to brace for a monetary policy shift. While recent polls as of last week indicated only a minority […]

The post BoJ’s Repeated Hawkish Signals Fuel Yen Rebound, Sterling Falters on Stagnant Growth Data appeared first on Action Forex.

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Japan’s Stock Market Breaks Through the “Iron Coffin Lid”, Yen Broadly Lower
22/02/2024

Japan’s Stock Market Breaks Through the “Iron Coffin Lid”, Yen Broadly Lower

Japanese Yen had a broad-based declined in Asian session today, while Nikkei extended its recent up trend, momentarily reaching a new record high, ending the 34-year wait. This milestone is of considerable psychological significance for Japan, symbolizing the end of over three decades of economic stagnation ensued after the burst of the country’s stock and […]
Euro Staying Pressured Under Pressure Amid Yield Volatility
10/06/2024

Euro Staying Pressured Under Pressure Amid Yield Volatility

As US session begins, Euro continues to face significant downward pressure, largely influenced by political developments in France. The call for a snap election following the far-right National Rally party’s gains in the EU election has sparked concerns among investors, driving French 10-year yield to its highest level since November. Additionally, the spread between French […]
Canadian Dollar Slumps as Inflation Miss Heightens BoC 50bps Cut Expectations
15/10/2024

Canadian Dollar Slumps as Inflation Miss Heightens BoC 50bps Cut Expectations

Canadian Dollar weakens broadly decline in early US session following weaker-than-expected inflation data. The drop in headline CPI, driven primarily by falling gasoline prices, was steeper than anticipated. However, core inflation measures, especially the closely-watched CPI common, remained near 2% level. This further solidifies expectations that BoC would accelerate its policy easing, with a 50bps […]