Top related persons:
Top related locs:
Top related orgs:

Search resuls for: "BOJ's"


25 mentions found


Dollar steady ahead of inflation reading; yen teeters toward 160
  + stars: | 2024-06-24 | by ( ) www.cnbc.com   time to read: +3 min
The dollar was steady on Monday as traders looked ahead to fresh clues on the U.S. inflation path that will likely influence interest rates, while talk from Japanese authorities did little to temper the yen's decline back the round number of 160. The dollar was steady on Monday as traders looked ahead to fresh clues on the U.S. inflation path that will likely influence interest rates, while talk from Japanese authorities did little to temper the yen's decline back the round number of 160. The yen weakened to 159.94 per dollar in early trade on Monday, its lowest since April 29, when the yen touched a 34-year low of 160.245 leading to Japanese authorities spending some 9.8 trillion yen to support the currency. "The combination of slowing activity, a loosening labor market and slower inflation readings make us increasingly confident that the Fed will begin reducing policy rates in September," Citi said. The Australian dollar was last at $0.6640 and the New Zealand dollar was little changed at $0.6113.
Persons: Masato Kanda, Carol Kong, Emmanuel Macron, Christopher Wong Organizations: Bank of, Commonwealth Bank of Australia, Reuters, Citi, Fed, National, New Zealand Locations: Japan, U.S
Even so, Japan's top currency diplomat Masato Kanda stressed on Friday that Tokyo stands ready to take further "resolute" action against "speculative, excessive volatility". The dollar index was little changed at 105.66, on course for a slight weekly gain that would extend its winning streak to three weeks. Sterling was flat at $1.2657, sticking close to the $1.2655 low from Thursday, a level last seen on May 17. The BoE kept rates on hold, but some policy makers said the decision not to cut was "finely balanced". The European Central Bank kicked off its rate cutting cycle earlier this month.
Persons: Tony Sycamore, Sycamore, Masato Kanda, Sterling, BoE Organizations: U.S, Federal, Swiss, Swiss National Bank, Bank of England, Bank of, IG, U.S . Treasury, European Central Bank, Fed Locations: Japan, China, Tokyo
Yen on guard ahead of BOJ; euro stutters with weekly loss in sight
  + stars: | 2024-06-14 | by ( ) www.cnbc.com   time to read: +4 min
The yen was on the defensive on Friday ahead of a policy decision from the Bank of Japan that could see it further reduce its massive monetary stimulus, while elsewhere the euro, mired in political turmoil, was headed for a weekly loss. The yen was on the defensive on Friday ahead of a policy decision from the Bank of Japan that could see it further reduce its massive monetary stimulus, while elsewhere the euro, mired in political turmoil, was headed for a weekly loss. The yen was a touch weaker at 157.08 per dollar and on track for a marginal weekly loss of about 0.2%, though moves were largely subdued ahead of the conclusion of the BOJ's two-day monetary policy meeting later on Friday. The euro was little changed at $1.0737, and was poised for a weekly loss of roughly 0.6%. Against the British pound, the euro was last languishing near a 22-month low and staring at a weekly decline of 0.9%.
Persons: Ray Attrill, Wall, Powell, Jean Boivin, Emmanuel Macron's, Macron, France's, Erik, Jan van Harn Organizations: Bank of, National Australia Bank, New Zealand, Federal Reserve, BlackRock Investment Institute, Fed, Aussie, Rabobank Locations: Bank of Japan, BlackRock
Dollar finds footing as traders turn to U.S. services data
  + stars: | 2024-06-05 | by ( ) www.cnbc.com   time to read: +3 min
US Dollar notes and euro coins are arranged for a photograph on Sept. 11, 2017. The dollar steadied on Wednesday as traders pared back on riskier bets in emerging markets while waiting on an interest rate decision in Canada and on U.S. services data. Japanese real wages fell for a 25th straight month in April, data on Wednesday showed, as inflation outpaces nominal pay rises. The Swiss franc rose for a fourth straight session on the dollar overnight and at 0.8902 per dollar is close to breaking through its 200-day moving average. The New Zealand dollar was steady at $0.6173, while the Canadian dollar held the middle of a months-long range at C$1.3678 per dollar.
Persons: Jane Foley, Ryozo Himino, Narendra Modi, Chris Weston Organizations: Swiss, Bloomberg News, Bank of, Rabobank, BOJ, Westpac, New Zealand, African National Congress, Morena Locations: Canada, U.S, Bank of Japan, Asia, Japan, Morena
U.S. one hundred dollar bills are being shown in this picture illustration taken in Buenos Aires, Argentina, on Dec. 15, 2023. The dollar soared to a two-week high against its major peers on Thursday, as a rout in Treasuries improved the currency's allure due to both higher U.S. yields and demand for safe haven assets. The bond market rout has spooked investors, with equities globally sliding sharply this week, spurring a rush to the safest assets. The yen , however, climbed off a four-week low of 157.715 per dollar from overnight to last trade at 157.505. "The bond market bogey is well-positioned to wrest deeper control of the broader market, particularly if upcoming growth and inflation data are on the firmer side of the ledger."
Persons: Tony Sycamore Organizations: Ministry of Finance, Bank of Japan, Reserve, IG Locations: Buenos Aires, Argentina, Treasuries, U.S
Japan is not seeking a strong yen but rather aiming for a relatively stable currency, according to veteran investor David Roche. The Japanese yen has been on a roller coaster ride, with the currency breaking past 160 against the greenback last week — steepest decline in more than three decades. "The Japanese are not aiming at a particularly strong yen. Japan could not "possibly speak to have policy that really results in a strong yen unless they tighten monetary policy," Roche said, adding that it would involve raising interest rates by at least 50 basis points and allowing "unsterilized intervention" of the yen. As far as I can see from the statistics, they've [Bank of Japan] done nothing like that," Roche noted.
Persons: David Roche, Roche, CNBC's Organizations: greenback, Independent, Bank of Japan, Bank of Locations: Japan, Bank of Japan
The yen held its line against the dollar on Tuesday after making sharp gains the previous day in moves that traders said were sparked by suspected intervention by Japanese authorities. "There is clearly a possibility that the sharp and sudden lifts in the JPY were sparked by intervention. Official figures that would reveal whether intervention did in fact occur won't be available until late May. The Japanese currency still sits lower than it was before the Bank of Japan's policy announcement last week. The Fed is expected to strike a hawkish message, meaning more yen selling is likely, CBA's Kong said.
Persons: haven't, Masato Kanda, Carol Kong, bode, CBA's Kong, pare, Sterling, bitcoin Organizations: Federal, Commonwealth Bank of Australia, Trading, Markets, Bank of, Fed, Traders, European Central Bank Locations: Buenos Aires, Argentina, Tokyo, Asia, Japan, U.S, Bank of England
In this article JPY= Follow your favorite stocks CREATE FREE ACCOUNTThe Japanese yen has weakened significantly against the dollar in 2022. Stanislav Kogiku | SOPA Images | LightRocket | Getty ImagesThe Japanese yen weakened to 160 against the U.S. dollar in Monday morning trading in Asia. The yen briefly touched 160.03 against the dollar, the weakest level since April 1990 when it touched 160.15, according to FactSet data. The yen has traded around 150 or weaker against the dollar since the Bank of Japan ended its negative interest rate regime in March. Japanese authorities have repeatedly warned against "excessive" moves in the yen, but have made no official announcements about bolstering the currency.
Persons: Stanislav Kogiku, Kazuo Ueda, Ueda, Vincent Chung, Rowe Price's, Chung Organizations: U.S, greenback, Bank of Japan Locations: Asia
Markets wary of intervention as yen struggles at 155 level
  + stars: | 2024-04-25 | by ( ) www.cnbc.com   time to read: +3 min
Having traded in a tight range over the past few days, a buoyant dollar finally broke above the 155 yen level for the first time since 1990 in the previous session, and was last steady at 155.34 yen in early Asia trade. The breach of the 155 yen level comes as the BOJ meets to discuss monetary policy, though expectations are for the central bank to keep its short-term interest rate target unchanged following last month's landmark exit from negative rates. "We expect the BOJ meeting to deliver a marginally hawkish hold outcome," said Carl Ang, fixed income research analyst at MFS Investment Management. Continued expectations of gradual policy tightening and a low terminal policy rate make it difficult for the yen to appreciate significantly, even if at historically depressed levels." The dollar steadied at 105.79 against a basket of currencies, pulling away from a nearly two-week low hit in the previous session.
Persons: Carl Ang, Kazuo Ueda, Justin Smirk Organizations: Bank of Japan, MFS Investment Management, Reserve Bank of Australia, Westpac, New Zealand Locations: Tokyo, Asia, Australia
In this article JPY= Follow your favorite stocks CREATE FREE ACCOUNTThe Japan flag is juxtaposed against a Japanese yen bank note. Javier Ghersi | Moment | Getty ImagesThe yen slipped past 155 against the U.S. dollar on Thursday, touching a new 34-year low against continued strength in the greenback. The weakness comes as the Bank of Japan is due to release its monetary policy decision Friday and in spite of verbal warnings from Japanese authorities. Some market watchers had speculated that the 155 level would prompt intervention after the currency languished at multi-decade lows for a month. The yen has weakened 4.2% since the BOJ's March meeting, worrying Japanese authorities and investors.
Persons: Javier Ghersi, Shusuke Yamada, Jerome Powell, Appio Organizations: U.S, Bank of Japan, BofA Securities, Federal, First Eagle Investments, CNBC, Korean Locations: Japan, South Korea
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIt's the perfect time for the BOJ's 'slow and patient' approach to monetary policy: NomuraGareth Nicholson of Nomura says the BOJ's "two steps forward, one step back" approach to monetary policy could be positive for the Japanese equity market.
Persons: Nomura Gareth Nicholson, Nomura
Firm dollar drags yen down closer to intervention range
  + stars: | 2024-04-23 | by ( ) www.cnbc.com   time to read: +4 min
A firm U.S. dollar had the yen locked near a fresh 34-year low on Tuesday, keeping investors on heightened intervention watch as they looked ahead to key U.S. inflation report and the Bank of Japan's rate decision this week. A firm U.S. dollar had the yen locked near a fresh 34-year low on Tuesday, keeping investors on heightened intervention watch as they looked ahead to key U.S. inflation report and the Bank of Japan's rate decision this week. Traders have been keeping wary eye as yen slips towards 155.00, a level considered by many participants as the new trigger for intervention by Japanese authorities. The weak yen complicates the BOJ's policy path, with some market players betting the central bank could come under pressure to hike rates sooner than it wants to slow the currency's decline. Markets are currently pricing in a 46% chance of the Fed's first rate cut starting in September, with November not far behind at 42%, according to the CME FedWatch Tool.
Persons: Carol Kong, Shunichi Suzuki, BoE, Sterling, bitcoin Organizations: Bank of, Traders, Bank of Japan's, Commonwealth Bank of Australia, Japan's Finance, Federal Reserve, Investors, Commonwealth Bank of Australia's, European Central Bank, Bank of England Locations: Japan, Iran, Israel, Tokyo, Japan's, U.S, Commonwealth Bank of Australia's Kong
Aussie, New Zealand dollars tumble on risk-off moves; yen rises
  + stars: | 2024-04-19 | by ( ) www.cnbc.com   time to read: +4 min
The risk-sensitive Australian dollar tumbled 0.8% to $0.6370, and the New Zealand dollar fell 0.63% to $0.5864. ABC News reported late on Thursday that Israeli missiles have hit a site in Iran, citing a U.S. official. The shift in rate expectations has come on the back of a slew of resilient U.S. economic data that has repeatedly surpassed expectations, alongside still-sticky inflationary pressures. "Although policy easing may arrive a bit later than previously expected, we still believe the FOMC will start cutting rates before the year is out," said economists at Wells Fargo. Against a basket of currencies, the greenback rose 0.1% to 106.28, hovering near a more than five-month high of 106.51.
Persons: Carol Kong, I'm, Kazuo Ueda, it'll, CBA's, Jerome Powell Organizations: New, Hamas, U.S ., U.S, New Zealand, ABC News, Commonwealth Bank of Australia, Bank of Japan, European Central Bank, ECB Locations: New Zealand, Iran, United States, Japan, South Korea, U.S, CBA's Kong, Wells Fargo
Dollar ascendant as Fed cut bets pared, jawboning props up yen
  + stars: | 2024-04-02 | by ( ) www.cnbc.com   time to read: +3 min
The U.S. dollar hovered near a 4-1/2-month high against major peers on Tuesday as traders rushed to push back bets for the Federal Reserve's first interest rate cut this year. The U.S. dollar hovered near a 4-1/2-month high against major peers on Tuesday as traders rushed to push back bets for the Federal Reserve's first interest rate cut this year. The U.S. rate futures market now factors in 61.3% odds of a Fed rate cut in June, down from about 70.1% probability a week ago, according to the CME's FedWatch tool. The Japanese yen firmed slightly on Tuesday to 151.565 per dollar, after dipping to 151.77 the previous day. Japanese authorities intervened in 2022 when the yen slid toward a 32-year low of 152 to the dollar.
Persons: , Richard Franulovich, Sterling, Shunichi Suzuki, Westpac's, skidding, cryptocurrency bitcoin Organizations: U.S, Federal, Treasury, Bank of Japan's Locations: U.S, Japan
The yen has been on a downtrend despite the BOJ's decision on March 19 to end eight years of negative interest rates. Japanese Finance Minister Shunichi Suzuki said on Monday there were some speculative moves in the currency market that did not reflect economic fundamentals, repeating his warning against excessive yen declines. "We will watch currency market developments with a strong sense of urgency, and will respond appropriately against excessive moves without ruling out any options," Suzuki told parliament. Suzuki said various factors are driving currency moves such as the Bank of Japan's decision to end negative interest rates, Japan's current account balance, price moves, geopolitical risks, as well as market players' sentiment and speculative trades. "As for the yen's recent declines, we believe there are some speculative moves that do not reflect fundamentals when taking into account domestic and overseas economic as well as price developments," he said.
Persons: Shunichi Suzuki, Suzuki Organizations: Japanese Finance, Bank of
Japanese Finance Minister Shunichi Suzuki said on Friday there were "speculative" moves behind recent yen declines, suggesting authorities remained on stand-by to intervene in the market to address any excessive falls in the currency. Suzuki also said authorities were watching the speed, rather than the levels, of the yen's moves. He repeated Tokyo's recent warnings that authorities would not rule out any steps to respond to disorderly currency moves. "Given how the yen's declines are continuing despite the interest rate gap narrowing, albeit modestly, suggest that there are speculative moves in the market," Suzuki told parliament. Excessive volatility is undesirable, and we are watching market moves from this perspective," he said.
Persons: Shunichi Suzuki, Suzuki Organizations: Japanese Finance Locations: Tokyo
The BOJ will now look to utilize its short-term interest rate as its primary policy tool. It will employ an interest rate of 0.1% to current account balances held by financial institutions at the central bank from March 21, while encouraging the uncollateralized overnight call rate (another interest rate used as a policy lever by the bank) to remain at around 0 to 0.1% — effectively raising interest rates from -0.1% previously. It would resort to "nimble responses" in the form of increased Japan government bond purchases and fixed-rate purchases of JGBs, among other things, if there is a rapid rise in long-term interest rates. Japanese investors have looked elsewhere for better returns given years of artificially depressed interest rates in their home market. The Fed is due to announce its own interest rate decision on Wednesday.
Persons: Japan Alexander Spatari, Kazuo Ueda, Rob Carnell, BOJ, Ueda, Michael Brown, , JGBs, Vishnu Varathan, Hayden Briscoe, Briscoe Organizations: Japan's, Japan Inc, Asia, ING, CNBC, Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group, Mizuho Financial Group, Bank of America, Barclays, U.S . Federal, UBS Asset Management Locations: Dotonbori, Japan, Japan's, U.S, Mizuho's, Asia
Yen holds nerve as BOJ decision looms; dollar resurgent
  + stars: | 2024-03-19 | by ( ) www.cnbc.com   time to read: +4 min
The yen was last little changed at 149.14 per dollar, while the Australian dollar fell 0.06% $0.6556. Against the euro, the yen steadied at 162.18, with the Japanese currency likewise little changed against the Aussie at 97.78. So BOJ's decisions generally are, as far as the yen is concerned, a matter of secondary importance," said Berry. "Holding policy rates steady and policy guidance broadly unchanged seems like a reasonably straightforward decision in the presence of high uncertainty," said Carl Ang, fixed income research analyst at MFS Investment Management. The New Zealand dollar was similarly pinned near Monday's two-week low and last bought $0.6079.
Persons: Gareth Berry, It's, they're, it's, Berry, Carl Ang, Sterling, , Goldman Sachs, David Mericle Organizations: Bank of Japan, U.S, Reserve Bank of Australia, Aussie, Nikkei, Macquarie, Federal Reserve, MFS Investment Management, U.S ., New Zealand Locations: Bath, England, Asia, Japan, United States, Down, Australia, Monday's
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe BOJ's decision to hike rates isn't a move toward a 'very hawkish' stance, strategist saysDavid Zervos, chief market strategist at Jefferies, discusses the Bank of Japan's historic decision to raise interest rates for the first time in 17 years.
Persons: David Zervos Organizations: Jefferies, Bank of
Tokyo’s Nikkei 225 index rose 0.7% to 40,003.60, while the dollar rose to 150.35 Japanese yen from 149.14 yen. Australia's S&P/ASX 200 added 0.4% to 7,703.20 after Australia’s central bank kept its benchmark interest rate steady at 4.35% for a third consecutive meeting. This week's highlight for Wall Street will likely be the Federal Reserve’s meeting on interest rates, which ends on Wednesday. The widespread expectation is for the central bank to hold its main interest rate steady at its highest level since 2001. But Fed officials will also give updated forecasts for where they see interest rates heading this year and in the long run.
Persons: Australia's, Tesla, Stephen Scherr, Wayne “ Gil ”, He’s, It's Organizations: Bank of Japan, Nikkei, Reserve Bank, Bank of England, Dow Jones, Nasdaq, Nvidia, Big Tech, Hertz Global Holdings, Cruise, Delta Air Lines, Boeing, Workers, New York Mercantile Exchange, Brent Locations: BANGKOK, Asia, Shanghai, Seoul, U.S, Oregon, San Francisco
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNegative interest rates are a 'stupid idea'; BOJ should have raised rates 'months ago': Chris WoodChris Wood of Jefferies weighs in on the Bank of Japan's equity purchases, calling the move "at best unnecessary, at worst totally counter-productive". He also criticized BOJ's negative interest rate policy.
Persons: Chris Wood Chris Wood, Jefferies Organizations: Bank of
Goldman Sachs now expects the Bank of Japan to raise interest rates for the first time in 17 years at its March meeting this week, bringing forward its previous forecast for an April decision. Ota said he expects the BOJ to abolish its yield curve control policy, which the central bank employs to target longer-term interest rates, by buying and selling bonds as necessary. Still, he expects the central bank will "not explicitly commit" to the size of its Japanese government bond purchases or the cessation of its ETF purchases. While the central bank has effectively loosened its yield curve control policy over longer term interest rates over the past 16 months, it has kept interest rates at -0.1% and still maintains an upper limit for 10-year Japanese government bond yield at 1% as a reference. While BOJ Governor Kazuo Ueda meets with his other eight board members eight times a year, the central bank updates its economic outlook only four times: in January, April, July and October.
Persons: Goldman Sachs, Tomohiro Ota, Ota, Kazuo Ueda Organizations: Bank of Japan Locations: Ueno Park, Tokyo, Japan
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWage negotiations are unlikely to significantly shift the BOJ's policy direction: Portfolio managerJamie Halse of Platinum Asset Management thinks says wage increases at Japan's large companies is unlikely to affect the Bank of Japan's cautious approach to monetary policy.
Persons: Jamie Halse Organizations: Asset Management, of
(Photo by Kazuhiro NOGI / AFP) (Photo by KAZUHIRO NOGI/AFP via Getty Images)At Japan's highly anticipated "shunto" spring wage negotiations this year, the world's largest automaker Toyota agreed to the biggest annual pay increase for workers in 25 years. Market speculation reached fever pitch this week as various corporate giants announced robust negotiated salary increments that in some instances exceeded what unions petitioned for. Bank of Japan Governor Kazuo Ueda has repeatedly said the outcome of this year's wage negotiations will influence the central bank's decision on when to exit the world's last negative interest rate policy. Japan's largest trade union grouping, known as Rengo, will announce the first collation of ongoing wage negotiations on Friday. Here's what you need to know about this year's spring wage talks, which takes place annually in March.
Persons: Kazuhiro NOGI, KAZUHIRO NOGI, Kazuo Ueda Organizations: Bank of Japan, The Bank of Japan, Getty, Toyota Locations: Tokyo, AFP
Dollar steadies as traders weigh hotter-than-expected inflation
  + stars: | 2024-03-13 | by ( ) www.cnbc.com   time to read: +3 min
The U.S. dollar held steady against a handful of rival currencies on Wednesday, as traders weighed what impact hotter-than-expected inflation data could have on chances of an interest rate cut at the Federal Reserve's June meeting. The U.S. dollar held steady against a handful of rival currencies on Wednesday, as traders weighed what impact hotter-than-expected inflation data could have on chances of an interest rate cut at the Federal Reserve's June meeting. The U.S. consumer price index, or CPI, increased solidly in February, beating forecasts and suggesting some stickiness in inflation. That has left analysts wondering whether the Fed will have sufficient data to justify more than a couple of rate cuts all year. The dollar index , which measures the greenback against a basket of peer currencies, was little changed at 102.91.
Persons: Powell, Matt Simpson, Kazuo Ueda's, bitcoin Organizations: U.S, Federal, Fund, U.S ., CPI, Bank of Japan, Traders, European Central Bank Locations: U.S
Total: 25