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The yen is down against the major currencies after the BoJ

2018-11-05 07:20 am | Resource: News | No Views : 53



 Japan's economy is expanding moderately as exports are expected to grow, mainly from IT-related goods, and inflation expectations remain somewhat unchanged, BOJ policy board members said in their meeting minutes in September. Meeting.

BOJ members agreed that due to the US-China trade war and the decline in Turkish lira, investors' sentiment has worsened and stock prices have fluctuated. Some members were concerned about US trade policy as they did not feel that the United States and China were willing to make concessions. Some members also said that developments in the negotiations on the UK's exit from the EU, including the possibility that Britain would not leave the EU, could pose a threat to developments in foreign economies.

Members also noted that public investment in Japan was fairly stable, investment in fixed businesses continued to increase, and that private consumption had increased moderately. Industrial production is increasing due to rising demand at home and abroad, and PPI is on the rise. Bank of Japan members also said long-term real interest rates were negative.

The JPY is down against the majors

During the Asian trading and after the release of the Bank of Japan's minutes and Kuroda's remarks, the Japanese yen fell against most major currencies:
 
  • The USDJPY rose 0.08 percent to trade at 113.299
  • The euro was up against the yen at 0.08 percent, trading at 129.02
  • The pound was also up against the yen at 0.36 percent, with the pair trading at 147.31
  • The Swiss Franc remained unchanged against the Japanese Yen, trading at 112.81
  • The Canadian dollar was up against the yen at 0.36 percent and the pair is trading at 86.433


Other analysis

USD/JPY Technical analysis 16 November 2018

Time frame Used - four hours The USDJPY is moving in a bearish direction in the near term. The USDJPY managed to control movement  the USDJPY to break the support level around the 113.58 level  down to hit the 113.07 level forming a positive candlestick pattern to bounce back above to test the 113.58 level especially after the release of the US Retail Sales report which showed growth and a…

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