Market Update: Key Currency Movements and Policy Decisions
▪️ Yen Under Pressure: The yen continues to struggle, declining 9% this year, making it the worst-performing G10 currency. It recently dipped to a 34-year low of 155.445 against the dollar, briefly touching 155.45, a significant level that had previously been considered a threshold for potential intervention by Tokyo.
▪️ BOJ Meeting in Focus: The Bank of Japan (BOJ) has commenced its two-day rate-setting meeting. While no changes in the short-term interest rate target are expected, all eyes are on Governor Kazuo Ueda's strategy to navigate away from ultra-easy monetary policies without destabilizing the yen. Memories of 2022, when dovish comments led to a costly intervention to support the yen, loom large.
▪️ Potential Currency Intervention: With the yen's continued slide, especially if it approaches 160 to the dollar, there’s growing speculation about when Japan might intervene. Despite the strong headwinds from relative interest rate differentials, Finance Minister Suzuki has hinted that the conditions for intervention might be set, adding a layer of uncertainty to forex markets.
💬Your Thoughts?
Will there be an intervention or not?
This expert material is provided by SabioTrade.
SabioTrade | Prop Trading Firm
🔹 Funded accounts 20k-200k
🔹 80-90% profit share
🔹 1-step assessment
🔹100% Refund
🔹 Own trading platform
▪️ BOJ Meeting in Focus: The Bank of Japan (BOJ) has commenced its two-day rate-setting meeting. While no changes in the short-term interest rate target are expected, all eyes are on Governor Kazuo Ueda's strategy to navigate away from ultra-easy monetary policies without destabilizing the yen. Memories of 2022, when dovish comments led to a costly intervention to support the yen, loom large.
▪️ Potential Currency Intervention: With the yen's continued slide, especially if it approaches 160 to the dollar, there’s growing speculation about when Japan might intervene. Despite the strong headwinds from relative interest rate differentials, Finance Minister Suzuki has hinted that the conditions for intervention might be set, adding a layer of uncertainty to forex markets.
💬Your Thoughts?
Will there be an intervention or not?
This expert material is provided by SabioTrade.
SabioTrade | Prop Trading Firm
🔹 Funded accounts 20k-200k
🔹 80-90% profit share
🔹 1-step assessment
🔹100% Refund
🔹 Own trading platform
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.