Yen Rises As European Shares Traded Lower
20 Novembre 2023 - 7:09AM
RTTF2
The Japanese yen strengthened against other major currencies in
the European session on Monday as European stock markets traded
lower, after last week's sharp rally on expectations that falling
inflation across industrialized countries will prompt global
central banks to start cutting interest rates next year.
Investors await comments from a number of central bankers later
today, including Bank of France Governor de Galhau, Bank of Spain
Governor de Cos and Bank of England Governor Bailey for
direction.
Minutes from the Federal Reserve's last meeting earlier this
month are due to be released Tuesday and could shed further light
on the central bank's considerations.
The minutes could influence a potential rebound or continuation
of the rally in U.S. bond yields.
In the Asian session today, the yen held steady against its
major rivals.
In the European trading now, the yen rose to 1-week highs of
162.07 against the euro, 185.07 against the pound and 167.84
against the Swiss franc, from early lows of 163.56, 186.80 and
169.29, respectively. If the yen extends its uptrend, it is likely
to find resistance around 158.00 against the euro, 181.00 against
the pound and 165.00 against the franc.
Against the U.S. and the Canadian dollars, the yen advanced to
nearly a 1-1/2-month high of 148.19 and nearly a 3-week high of
108.12 from early lows of 150.00 and 109.31, respectively. The yen
may test resistance around 147.00 against the greenback and 107.00
against the loonie.
Moving away from an early 4-day low of 97.73 against the
Australian dollar, the yen edged up to 97.17. On the upside, 94.00
is seen as the next resistance level for the yen.
The yen edged up to 89.47 against the NZ dollar, from an early
low of 89.94. The next possible upside target for the yen is seen
around the 88.00 region.
Looking ahead, U.S. CB leading index for October is slated for
release in the New York session.
Grafico Cross NZD vs Yen (FX:NZDJPY)
Da Giu 2024 a Lug 2024
Grafico Cross NZD vs Yen (FX:NZDJPY)
Da Lug 2023 a Lug 2024
