Yen Falls As BoJ Keeps Policy Settings Unchanged
16 Giugno 2023 - 4:44AM
RTTF2
The Japanese yen weakened against other major currencies in the
Asian session on Friday, as the Bank of Japan continued to maintain
its ultra-loose monetary policy at the end of the June monetary
policy meeting held today.
In a unanimous vote, the policy board decided to keep the
short-term policy rate and the yield curve control unchanged.
Policymakers forecast consumer price inflation to decelerate
towards of the middle of the fiscal 2023. Nonetheless, inflation is
projected to accelerate again moderately with the improving output
gap.
Investors reacted positively to the improved outlook for
interest rates after the U.S. Fed paused its interest rate hikes
following ten consecutive rate hikes.
The safe-haven yen started falling against its major rivals from
12th June onwards.
In the Asian trading today, the yen fell to 153.95 against the
euro and 157.74 against the Swiss franc, for the first time since
September 2008 and December 1979, respectively. At Thursday's
close, the yen was worth 153.51 against the euro and 157.19 against
the franc. The yen may see support around around 160.00 against the
euro and 162.00 against the franc.
The yen slid to 179.75 against the pound, its lowest level since
December 2015. At yesterday's close, the pair was worth 179.24. If
the yen weakens further, it is likely to test support around the
181.00 region.
Rebounding from a recent 2-day high of 139.85 against the U.S.
dollar, the yen edged down to 140.78. The pair had fell to 141.50
on Thursday, its lowest level since 23rd November 2022. If the yen
extends its downtrend, it is likely to find support around the
143.00 area.
Against the Australia, the New Zealand and the Canadian dollars,
the yen slipped to a 9-month low of 96.74, a 6-month low of 87.71
and a 7-month low of 106.36 from yesterday's closing quotes of
96.52, 87.45 and 106.05, respectively. The yen is seen facing
support around 99.00 against the aussie, 89.00 against the kiwi and
109.00 against the loonie.
Looking ahead, Euro group finance ministers is scheduled to meet
in Brussels at 4:00 am ET.
At 5:00 am ET, Eurozone final Inflation rate for May is due to
be released.
In the New York session, Canada final wholesale sales data for
April, U.S. University of Michigan preliminary consumer sentiment
for June and U.S. Baker Hughes oil rig count data are slated for
release.
Grafico Cross NZD vs Yen (FX:NZDJPY)
Da Ago 2024 a Set 2024
Grafico Cross NZD vs Yen (FX:NZDJPY)
Da Set 2023 a Set 2024
