EUR/JPY surrenders a major part of BoJ-inspired gains to 155.00 neighbourhood – by hareshmenghani EURJPY BOJ YieldCurve ECB Currencies
Bank of Japan announced its policy decision. The strong intraday rally, however, fizzles ahead of the 155.00 psychological mark, dragging spot prices back below mid-153.00s in the last hour.
The Japanese Yen weakens across the board in reaction to the BoJ's decision to leave its current accommodative monetary policy settings unchanged, which turns out to be a key factor that prompts aggressive short-covering around the EUR/JPY cross. Spot prices rally nearly 300 pips intraday and for now, seem to have snapped a four-day losing streak, reversing a major part of the previous day's heavy losses.
did not provide any explicit forward guidance about upcoming moves, raising the possibility of a potential pause in September. In fact, the ECB noted that inflation, though continues to decline, is still expected to remain too high for too long. However, the central bank said that the Governing Council will continue to follow a data-dependent approach to determining the appropriate level and duration of restriction.
Hence, it will be prudent to wait for strong follow-through buying before confirming that the EUR/JPY pair's recent sharp pullback from the 158.00 mark, or its highest level since September 2008 touched last Friday has run its course. Nevertheless, the cross remains on track to end the week deep in the red.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
EUR/JPY Price Analysis: Stays defensive above the 155.00 area, ECB, BoJ eyedThe EUR/JPY pair loses momentum and remains on the defensive above 155.00 in the Asian session. Market participants await the outcome of the European
Weiterlesen »
EUR/JPY consolidates weekly losses below 156.00 as markets await ECB, BoJEUR/JPY portrays the typical pre-data consolidation during early Thursday as it prints the first daily gains in four around 155.60 while bracing for t
Weiterlesen »
EUR/JPY can fall a lot faster than it can rise from here – SocGenEconomists at Société Générale analyze EUR/JPY outlook and of ECB and BoJ meetings. ECB to raise rates by 25 bps, BoJ will probably leave rates on hol
Weiterlesen »
EUR/JPY reversed its course following ECB’s hike and YCC Tweak prospectsThe EUR/JPY cross tallied a fourth consecutive day of losses, weakened by Christine Lagarde’s neutral stance following the European Central Bank (ECB)
Weiterlesen »
BoJ Preview: Forecasts from nine major banks, YCC tweaks are possibleThe Bank of Japan (BoJ) will hold its Monetary Policy Committee (MPC) meeting on Friday, July 28 and as we get closer to the Interest Rate Decision, h
Weiterlesen »
BoJ’s Ueda: Japan's long-term yield rate remains stable under YCCBank of Japan (BoJ) Governor Kazuo Ueda said on Wednesday, “Japan's long-term yield rate remains stable under the yield curve control (YCC) policy,” a
Weiterlesen »