FOREX TradingCharts.com

Forex News: Yen Advances On Rising Risk Aversion; BoJ Growth,

Yen Advances On Rising Risk Aversion; BoJ Growth, Inflation Forecasts Downgrade

04/25/2019 - 04:00:00 (RTTNews)

(RTTNews) - The Japanese yen was higher against its major counterparts in the Asian session on Thursday, as worries about global economic growth lifted the appeal of safe-haven assets. The currency was also supported by the Bank of Japan's decision to maintain interest rates very low at least through Spring 2020 and the downgrade of the inflation and GDP forecasts.

Investor sentiment dampened as a drop in German business confidence in April and contraction in the South Korean economy in the first quarter renewed fears over slowing global growth.

The Bank of Japan kept its monetary policy unchanged, leaving the interest rate at -0.1 percent and the yield of 10-year JGBs at around zero percent.

The BoJ said that it will keep its current extremely low interest rates for an extended period of time, at least through spring 2020, reflecting uncertainties about economy and prices as well as the impact of the scheduled consumption tax hike.

The bank would continue buying government bonds so that its holdings increase at an annual pace of around 80 trillion yen.

U.S. earnings remains in focus after Facebook, Microsoft, Tesla, and Visa released a set of mixed earnings after the market close Wednesday.

The yen advanced to 111.74 against the greenback, from a low of 112.24 hit at 8:30 pm ET. Next key resistance for the yen is likely seen around the 110.00 level.

The yen spiked up to 124.71 against the euro, a level unseen since April 3. The yen is poised to find resistance around the 122.00 level.

The yen that closed yesterday's deals at 144.73 against the pound strengthened to near a 4-week high of 144.31. The yen is likely to challenge resistance around the 142.5 level, if it rises further.

The Japanese currency appreciated to 109.56 against the franc, following a 2-day decline to 110.02 at 7:00 pm ET. The yen is seen finding resistance around the 107.00 level.

The yen edged up to 82.82 against the loonie and a session's high of 73.66 against the kiwi, from its early lows of 83.17 and 74.00, respectively. On the upside, 80.5 and 72.00 are likely seen as the next resistance levels for the yen against the loonie and the kiwi, respectively.

Reversing from a low of 78.71 touched at 8:45 pm ET, the yen appreciated to near a 4-week high of 78.37 against the aussie. The next possible resistance for the yen is seen around the 77.00 area.

Looking ahead, U.S. weekly jobless claims for the week ended April 20 and durable goods orders for March are scheduled for release in the New York session.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2019 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT FOREX and ECONOMIC NEWS STORIES


Dollar Ticks Up Following U.S. Consumer Sentiment Index (08 min(s), 32 sec(s) ago)
(RTTNews) - Following the release of University of Michigan's preliminary consumer sentiment i ...Full Story»

U.S. Dollar Higher Amid Mounting Trade Worries (59 min(s), 32 sec(s) ago)
(RTTNews) - The U.S. dollar gained ground against its most major counterparts in the European sess ...Full Story»

Euro Slides Amid Risk Aversion On China's Trade Rhetoric (17 min(s), 32 sec(s) ago)
(RTTNews) - The euro drifted lower against its most major counterparts in the European session on ...Full Story»

Pound Drops As May To Reveal Departure Date After Brexit Vote (54 min(s), 28 sec(s) ago)
(RTTNews) - The pound came under pressure against its major counterparts in early European deals o ...Full Story»

Euro Little Changed Following Eurozone Inflation (01 hr(s), 57 min(s), 28 sec(s) ago)
(RTTNews) - After the release of Eurozone inflation for April at 5:00 am ET Friday, the euro chang ...Full Story»

Euro Mixed Ahead Of Eurozone Inflation (02 hr(s), 03 min(s), 28 sec(s) ago)
(RTTNews) - At 5:00 am ET Friday, Eurozone inflation for April is due. Ahead of the data, the euro ...Full Story»

Japanese Yen Strengthens Against Majors (04 hr(s), 03 min(s), 28 sec(s) ago)
(RTTNews) - The Japanese yen moved up against its major counterparts in pre-European deals on Frid ...Full Story»

Australian Dollar Slides Against Majors (04 hr(s), 24 min(s), 28 sec(s) ago)
(RTTNews) - The Australian dollar slipped against its major counterparts in pre-European deals on ...Full Story»

Search

FOREX NEWS

Dollar Ticks Up Following U.S. Consumer Sentiment Index

05/17/2019 - 10:09 AM (RTTNews)
(RTTNews) - Following the release of University of Michigan's preliminary consumer sentiment i ...Full Story>>

U.S. Dollar Higher Amid Mounting Trade Worries

05/17/2019 - 10:00 AM (RTTNews)
(RTTNews) - The U.S. dollar gained ground against its most major counterparts in the European sess ...Full Story>>

Euro Slides Amid Risk Aversion On China's Trade Rhetoric

05/17/2019 - 08:19 AM (RTTNews)
(RTTNews) - The euro drifted lower against its most major counterparts in the European session on ...Full Story>>

Pound Drops As May To Reveal Departure Date After Brexit Vote

05/17/2019 - 06:07 AM (RTTNews)
(RTTNews) - The pound came under pressure against its major counterparts in early European deals o ...Full Story>>

Euro Little Changed Following Eurozone Inflation

05/17/2019 - 05:05 AM (RTTNews)
(RTTNews) - After the release of Eurozone inflation for April at 5:00 am ET Friday, the euro chang ...Full Story>>
Copyright © 2019. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.