FOREX TradingCharts.com

Forex News: Japanese Yen Falls Amid Fed-BoJ Policy Divergence

Japanese Yen Falls Amid Fed-BoJ Policy Divergence

09/15/2022 - 05:19:00 (RTTNews)

(RTTNews) - The Japanese yen dropped against its major counterparts in the Asian session on Thursday, amid higher U.S. treasury yields and growing monetary policy divergence between the U.S. Federal Reserve and the Bank of Japan.

The dollar index rose on expectations that the Federal Reserve will continue to raise rates aggressively to tackle high inflation.

The Fed is expected to deliver a third consecutive 75 basis-point rate hike when it meets next week.

Fed funds futures suggest a 28 percent chance of a 100 basis-point rate hike following strong U.S. inflation data for August.

In contrast, the BoJ is committed to maintain an ultra-loose monetary policy in a bid to support the economy.

The yen weakened to 143.80 against the greenback and 165.73 against the pound, from its previous highs of 142.79 and 164.80, respectively. The yen is poised to challenge support around 148.00 against the greenback and 172.00 against the pound.

The yen dropped to 149.27 against the franc and 143.45 against the euro, off its early highs of 148.46 and 142.56, respectively. Next key support for the yen is likely seen around 152.00 against the franc and 145.00 against the euro.

The yen edged down to 109.17 against the loonie, 86.36 against the kiwi and 97.13 against the aussie, after rising to 108.48, 85.82 and 96.41, respectively in prior deals. Immediate support for the yen is possibly seen around 113.00 against the loonie, 91.00 against the kiwi and 102.00 against the aussie.

Looking ahead, at 8:15 am ET, Canada housing starts for August are scheduled for release.

U.S. retail sales, import and export prices and industrial production, all for August, as well as weekly jobless claims for the week ended September 10, business inventories for July and New York Fed's empire manufacturing survey for September will be out in the New York session.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2022 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT FOREX and ECONOMIC NEWS STORIES


Dollar Little Changed Following ADP Data (09 hr(s), 24 min(s), 10 sec(s) ago)
(RTTNews) - ADP private sector employment data for September has been released at 8:15 am ET Wedne ...Full Story»

Dollar Mixed Ahead Of ADP Data (09 hr(s), 33 min(s), 10 sec(s) ago)
(RTTNews) - ADP private sector employment data for September is due at 8:15 am ET Wednesday. Ahead ...Full Story»

U.S. Dollar Advances In Cautious Trade (10 hr(s), 09 min(s), 09 sec(s) ago)
(RTTNews) - The U.S. dollar climbed against its major counterparts in the European session on Wedn ...Full Story»

Dollar Drops As Treasury Yields Fall (10 hr(s), 36 min(s), 10 sec(s) ago)
(RTTNews) - The U.S. dollar fell against its major counterparts in the European session on Tuesday ...Full Story»

Pound Climbs As U.K. Abandons Plan To Cut Top Tax Rate (09 hr(s), 12 min(s), 10 sec(s) ago)
(RTTNews) - The pound gained ground against its major counterparts in the European session on Mond ...Full Story»

Indian Rupee Hits 4-day Low Against U.S. Dollar (12 hr(s), 48 min(s), 10 sec(s) ago)
(RTTNews) - The Indian rupee dropped against the U.S. dollar in afternoon deals on Monday, as regi ...Full Story»

Australian Dollar Advances On Higher Oil Prices; RBA Decision In Focus (13 hr(s), 33 min(s), 10 sec(s) ago)
(RTTNews) - The Australian dollar firmed against its most major counterparts in the Asian session ...Full Story»

U.S. Dollar Higher As Core Inflation Accelerates (05 hr(s), 45 min(s), 10 sec(s) ago)
(RTTNews) - The U.S. dollar held firm against its major opponents in the New York session on Frida ...Full Story»

Search

FOREX NEWS

Dollar Little Changed Following ADP Data

10/05/2022 - 08:17 AM (RTTNews)
(RTTNews) - ADP private sector employment data for September has been released at 8:15 am ET Wedne ...Full Story>>

Dollar Mixed Ahead Of ADP Data

10/05/2022 - 08:10 AM (RTTNews)
(RTTNews) - ADP private sector employment data for September is due at 8:15 am ET Wednesday. Ahead ...Full Story>>

U.S. Dollar Advances In Cautious Trade

10/05/2022 - 07:34 AM (RTTNews)
(RTTNews) - The U.S. dollar climbed against its major counterparts in the European session on Wedn ...Full Story>>

Dollar Drops As Treasury Yields Fall

10/04/2022 - 07:08 AM (RTTNews)
(RTTNews) - The U.S. dollar fell against its major counterparts in the European session on Tuesday ...Full Story>>

Pound Climbs As U.K. Abandons Plan To Cut Top Tax Rate

10/03/2022 - 08:31 AM (RTTNews)
(RTTNews) - The pound gained ground against its major counterparts in the European session on Mond ...Full Story>>

Do not sell my personal information

Copyright © 2022. 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.