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☆ Yen slides after sources say Bank of Japan leaning to holding key policy
▼ + stars: | 2023-07-21 | by ( Iain Withers | ) www.reuters.com time to read: +4 min

BoJ policymakers prefer to scrutinise more data to ensure wages and inflation keep rising before changing the policy, five sources familiar with the matter said. The report added there was no consensus within the central bank and the decision could still be a close call. The dollar was heading for its biggest one-day gain versus the yen since April, rising as much as 1.3% to a nearly two-week high of 141.95. Prior to the report, the dollar had been up around 0.3% versus the yen. The dollar index - which tracks the greenback against six major peers including the yen - was last up 0.3% at 101.040.

Persons: Kenneth Broux, Broux, Kazuo Ueda, Masato Kanda, Scherrmann, Iain Withers, Ankur Banerjee, Angus MacSwan, David Holmes Organizations: Reuters, Bank of Japan, Trade, FX, Societe Generale, Ministry of Finance, Federal Reserve, European Central Bank, Thomson Locations: Europe, United States, U.S, Singapore

The greenback was down 0.18% at 1104 GMT to 144.44 yen , after rising 0.27% on Monday. However, the yen remained close to last week's almost eight-month low of 145.07 per dollar, which prompted Japan's Finance Minister Shunichi Suzuki to warn against excessive yen selling. Market activity was relatively subdued with U.S. markets closed for the July 4 public holiday. Across currency markets, investors remained on watch for possible intervention by Japanese authorities to stem yen losses. Tan said the dollar is likely to rise past 150 yen, which would make intervention "more likely than not".

Persons: Shunichi Suzuki, Alvin Tan, Masato Kanda, Janet Yellen, Charu, Tan, Harry Robertson, Ankur Banerjee, Kevin Buckland, Shri Navaratnam, Emma Rumney, Christina Fincher Organizations: LONDON, Japan's Finance, U.S, Federal, U.S ., Asia FX, RBC Capital Markets, Reserve Bank of Australia, Australian, Treasury, Reuters, Saxo Markets, Japan, Bank, Bank of, Thomson Locations: SINGAPORE, Asia, Bank of Japan, London, Singapore

☆ Stocks firmer after dip in euro zone inflation, dollar firm
▼ + stars: | 2023-06-30 | by ( Huw Jones | ) www.reuters.com time to read: +4 min

[1/2] The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, June 29, 2023. REUTERS/StaffLONDON, June 30 (Reuters) - Global shares stocks were firmer on Friday after data showed that inflation in the euro zone continued to fall this month, and attention turned to U.S. prices figures before the opening bell on Wall Streeet. The dollar and U.S. stock index futures , were firm ahead of the U.S. Personal Consumption Expenditures (PCE) index reading due at 1230 GMT, the Fed's favoured inflation gauge. Euro zone inflation fell to 5.5% in June as the cost of fuel tumbled, with Germany the only country to report an increase, with the European Central Bank still on course for a ninth consecutive rate hike next month, sending euro zone government bond yields higher.

Persons: Jerome Powell, Patrick Spencer, Baird, Spencer, Shunichi Suzuki, Rob Carnell, Hong, Brent, Gold, Huw Jones, Ankur Banerjee, Stephen Coates, Kim Coghill, Chizu Organizations: REUTERS, Staff LONDON, Global, U.S, Federal, European Central Bank, ECB, ING, Big Tech, Finance, Nikkei, Strong U.S, Thomson Locations: Frankfurt, Germany, U.S, Europe, CHINA, Asia, China, Pacific, Japan, Shanghai, Strong

☆ Asia shares steady as weak China data fuel stimulus hopes, yen frail
▼ + stars: | 2023-06-30 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

Futures indicated European stocks were set for a higher open, with Eurostoxx 50 futures up 0.18%, German DAX futures up 0.24% and FTSE futures 0.28% higher. But before that euro zone June inflation data will likely provide cues to the broader picture in the region, after data on Thursday showed German inflation rose more than expected in June. The strong economic data sent Treasury yields higher, with the yield on 10-year Treasury notes touching a three-month high of 3.868% on Thursday. China's blue-chip CSI300 Index (.CSI300) and the Shanghai Composite Index (.SSEC) rose nearly 1%, while Hong Kong's Hang Seng Index (.HSI) was up 0.24% on stimulus hopes. U.S. crude was flat at $69.87 per barrel and Brent was at $74.49, up 0.2% on the day.

Persons: Shunichi Suzuki, DAX, Rob Carnell, Jerome Powell, Hong, Brent, Ankur Banerjee, Stephen Coates, Kim Coghill Organizations: Federal Reserve, Finance, Investors, U.S, Reuters, Union, Bank of Japan, Thomson Locations: SINGAPORE, China, Asia, Pacific, Japan, Spain, Italy, U.S, Shanghai

☆ Yen weakens past 145 per dollar, yuan propped by stimulus hopes
▼ + stars: | 2023-06-30 | by ( Rae Wee | ) www.reuters.com time to read: +4 min

SINGAPORE, June 30 (Reuters) - The yen weakened past the closely watched 145 per dollar level on Friday, keeping traders wary of potential intervention by Japanese authorities, while the yuan crept higher as hopes for further stimulus from Beijing gathered steam. The onshore yuan fell to its lowest since November at 7.2615 per dollar shortly after trading opened on Friday, but was last marginally higher at 7.2505 per dollar. "PMIs released... reinforced the need for stimulus support. The Australian dollar , often used as a liquid proxy for the yuan, tracked the Chinese currency higher and rose 0.29% to $0.6635. Further clarity on the bloc's inflation outlook will come later on Friday, with June's flash inflation data due to be released.

Persons: Shunichi Suzuki, Saktiandi Supaat, PMIs, Christopher Wong, Carol Kong, Sterling, Elwin de Groot, Rae Wee, Sam Holmes Organizations: Bank of Japan's, Japan's Finance, Tokyo perked, New Zealand, U.S, U.S . Federal Reserve, Commerce Department, Commonwealth Bank of Australia, Bank of England, Central Bank, Rabobank, Thomson Locations: SINGAPORE, Beijing, Asia, Tokyo, U.S

☆ Morning Bid: Markets await euro zone inflation; wary of yen
▼ + stars: | 2023-06-30 | by ( ) www.reuters.com time to read: +3 min

[1/2] A general view of a fruit and vegetable stand on a weekly market in Berlin, Germany, March 14, 2020. Economists polled by Reuters expect the euro zone inflation rate to fall to 5.6% in June from 6.1% in May. The hawkish rhetoric was shared by other major central banks including U.S. Federal Reserve Chair Jerome Powell, who signalled the U.S. central bank was ready to resume its rate-hike campaign. Meanwhile, the yen broke beyond 145 a dollar, a proverbial 'line in the sand', resulting in fresh warning from Japan's finance minister. The intervention launched in September, when the yen weakened past 145 per dollar, was the first in 24 years.

Persons: Ankur Banerjee, Christine Lagarde, Jerome Powell, Shunichi Suzuki, Christopher Cushing Organizations: REUTERS, Ankur, Reuters, Union, ING, European Central Bank, U.S . Federal, U.S, Thomson Locations: Berlin, Germany, Spain, Italy, U.S, North America, Singapore

☆ Asia pushes back on 'excessive' currency moves amid enduring dollar strength
▼ + stars: | 2023-06-29 | by ( Clement Tan | ) www.cnbc.com time to read: +5 min

Japan finance officials have warned all this week against the "excessive" depreciation of the Japanese yen . Contrasting moves in the world's major currencies — including the Japanese yen, the Chinese yuan and the U.S. dollar — underscore the variance in domestic interest rates and monetary cycles. Authorities may be buying the Japanese yen "with the rise in USD/JPY set to run further," she added. The Japanese currency was hovering at about 144 against the greenback in Asia trade on Thursday. The central bank allows the currency to trade within a narrow band of 2% from each day's midpoint.

Persons: Sheldon Cooper, Carol Kong, Masato Kanda, Shunichi Suzuki, Philip Wee, Adnan Zaylani, BNM, Goldman Sachs Organizations: People's Bank of, Getty, U.S ., U.S, Commonwealth Bank of Australia, Ministry, Bank of Japan's, Reuters, Finance, DBS, greenback, Japan's Finance, Bank Negara Malaysia, Central Bank Locations: People's Bank of China, Asia, Japan, China, Covid, Ukraine, Malaysian, U.S . Federal, Bank

☆ FOREX Dollar weaker after data burst, euro rises on ECB comments
▼ + stars: | 2023-06-27 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +4 min

Additional data on single-family new home sales in May and home prices in April also indicated the housing market has been able to weather rising interest rates from the U.S. Federal Reserve. Morgan Stanley said on Tuesday it was now expecting the Fed to hike its key interest rate by 25 basis points in July, from an earlier estimate of a pause, raising its terminal rate forecast to 5.375%. The euro was up 0.49% to $1.0957 after climbing to $1.0976, the highest since June 22, after comments from ECB officials. Other ECB policymakers weren't anticipating clear evidenceinflation is easing enough that would enable the central bank to pause their interest rate hikes. The euro rose 0.84% against the yen at 157.830.

Persons: Christine Lagarde, Joseph Trevisani, Morgan Stanley, Shunichi Suzuki, Lagarde, Sterling, Jerome Powell, Andrew Bailey, Kazuo Ueda, Yevgeny Prigozhin, Vladimir Putin, Chuck Mikolajczak, David Evans, Alex Richardson Organizations: YORK, European Central Bank, greenback, U.S, Conference Board, U.S . Federal, Bank of Japan, Japan's Finance, ECB, Federal, Bank of England, Thomson Locations: U.S, Russian, Belarus

☆ Morning Bid: China gets weary of a weakening yuan
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: +2 min

China, unencumbered as it is by global pacts and commitments on market rates, has reacted swiftly this week. State banks have sold dollars to slow the yuan's decline, and the mid-point for daily trade has also been adjusted. Likewise, when it's around the 145-150 levels, the yen tips the cost-benefit balance for Japan too. Japan's yen has weakened against the dollar so far this year significantly more than its regional counterparts. The yuan has slid more than 4% against the dollar so far this year.

Persons: Vidya Ranganathan, Masato Kanda, Muralikumar Organizations: Vidya, ECB's, Thomson Locations: U.S, China, Japan, ECB's Sintra

☆ Japan central bank's ETF holdings under scrutiny as govt seeks revenue
▼ + stars: | 2023-06-07 | by ( Leika Kihara | ) www.reuters.com time to read: +2 min

Due to Japan's ageing population, people aged 60 years or more hold roughly 60% of total household financial assets. "The government must look into whether it's permissible to buy (the BOJ's ETF holdings) at book value for the purpose of securing sources of revenue," Finance Minister Shunichi Suzuki told parliament. The BOJ's ETF holdings as of March 2023 stood at 37 trillion yen ($265.75 billion) in book value, and 53 trillion yen in market value, according to the central bank's earnings data. BOJ Governor Kazuo Ueda told the same parliament session that it was premature to debate specifics on how the central bank could unload its ETF holdings. Ueda also said that in principle, the central bank plans to sell the ETFs at market value, instead of book value.

Persons: Fumio Kishida, Shunichi Suzuki, Kazuo Ueda, Ueda, Leika Kihara, Simon Cameron, Moore Organizations: Finance, Thomson Locations: TOKYO

☆ Japan's yen is weakening again, prompting talk of another intervention worth billions of dollars
▼ + stars: | 2023-06-06 | by ( Jihye Lee | ) www.cnbc.com time to read: +1 min

However, pointing to recent language used by Finance Minister Shunichi Suzuki, she added that immediate action seems less likely. "The language used is definitely not as tough compared to the lead up to the September 2022 intervention," she said. Masato Kanda, Japan's vice minister of finance for international affairs, told reporters last week that the government would step in if needed as the yen showed further weakening, according to Nikkei. Kanda's comments came after an unscheduled meeting between officials at Japan's Finance Ministry, the publication reported. She noted the month-on-month change seen in the currency before the intervention in September had a range of 6% to 8%.

Persons: Goldman Sachs, Shunichi Suzuki, Masato Kanda, Chew Organizations: Bank of Japan, U.S, Bloomberg, Getty, Ministry of Finance, Finance, Nikkei, Japan's Finance Ministry

[1/2] Japanese Yen and U.S. dollar banknotes are seen in this illustration taken March 10, 2023. REUTERS/Dado Ruvic/IllustrationLONDON/SINGAPORE, May 30 (Reuters) - The yen strengthened on Tuesday on news of a meeting of Japan's finance ministry and central bank, while elsewhere the dollar rose to a two-month high against a basket of its peers after the U.S. debt ceiling deal. The dollar was last down 0.18% against the Japanese yen at 140.18 after the country's finance ministry said senior officials from the Ministry of Finance, Bank of Japan and Financial Services Agency will meet from 5:30 p.m. (0830 GMT). Japanese central bank policy has been a major focus for investors in the past year after the BOJ last year intervened to strengthen the yen. Kenneth Broux, head of corporate research for FX and rates at Societe Generale, said FX intervention at current levels was unlikely.

Japan's insistence on continuing to rely on gas may delay reaching global climate change goals, especially as its energy companies reap large profits from their investments in the sector, climate activists say. "But I think Japanese companies will generally hesitate to be involved in gas projects in the future, especially those with long lead times. Japan's support for gas clashes with findings that new investments in gas, which is mainly composed of the greenhouse gas methane and produces CO2 emissions when burned for energy, would undermine climate goals. But, gas investments have been lucrative for Japan's energy companies resulting in record profits. But, Japan's stated intention to lower its carbon emissions may mean these gas investments carry some risk.

☆ Yellen expects US regulators to be open to mergers among midsize banks
▼ + stars: | 2023-05-13 | by ( Andrea Shalal | ) www.reuters.com time to read: +2 min

... Read moreNIIGATA, Japan, May 13 (Reuters) - The current banking environment and pressures on earnings of some U.S. regional banks may lead to some concentration in the sector, and regulators will likely be open to such mergers, Treasury Secretary Janet Yellen said on Saturday. Yellen told Reuters she was not seeing evidence of pressure on smaller community banks, which had a large percentage of insured deposits. She expressed confidence that nearly all banks had access to sufficient liquidity to guard against unexpected deposit outflows from uninsured depositors. However, she said a certain degree of consolidation in the regional and midsize banking sector could occur. Yellen noted that pressure on a bank's stock could unsettle uninsured depositors.

☆ G7 agreed global financial system resilient but needs vigilance, Japan finmin says
▼ + stars: | 2023-05-13 | by ( ) www.reuters.com time to read: +3 min

[1/2] Japan's Finance Minister Shunichi Suzuki, Germany's Finance Minister Christian Lindner, Britain's Chancellor of the Exchequer Jeremy Hunt, Joachim Nagel, President of Germany's federal reserve... Read moreNIIGATA, Japan, May 13 (Reuters) - Finance ministers and central banks from the Group of Seven rich nations agreed the global financial system is resilient but the need for vigilance remains, Japan's finance minister Shunichi Suzuki said on Saturday. "We reaffirm that our financial system is resilient, supported by the financial regulatory reforms implemented after the 2008 global financial crisis, including considerable increases in the levels of bank capital and liquidity, an international framework for effectively resolving failing institutions, and strengthened cross-border regulatory and supervisory cooperation," it said. British finance minister Jeremy Hunt told reporters at a separate event that G7 finance chiefs in Japan had "very frank and open discussions" about the challenges they face, including banking regulation. The ministers have wrapped up a three-day meeting in the Japanese city of Niigata. Reporting by Tetsushi Kajimoto and Leika Kihara; Writing by David Dolan Editing by Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

☆ South Korea and Japan's finance ministers to hold first bilateral talks in 7 years
▼ + stars: | 2023-04-17 | by ( ) www.reuters.com time to read: +1 min

SEOUL/TOKYO, April 17 (Reuters) - South Korea and Japan's finance ministers will hold a bilateral meeting early next month for the first time in seven years, heralding closer cooperation in economic policy that has been hampered by diplomatic conflict. South Korean Finance Minister Choo Kyung-ho told reporters during a visit to the United States that he has agreed to meet Japanese Finance Minister Shunichi Suzuki, according to a media pool report. "It is significant in that it will be the first step toward reviving regular bilateral meetings," Choo said, without elaborating. Regular annual meetings between the two countries' finance ministers have been suspended since 2016 due to disputes over wartime history. Financial markets will likely pay close attention to whether the finance ministers will discuss resuming a bilateral currency swap arrangement - one that had served as backstop against any potential currency crisis but which expired in February 2015.

The rescue package came shortly after embattled Credit Suisse (CSGN.S) tapped an emergency central bank loan of up to $54 billion to shore up its liquidity. The ECB supervisors saw no contagion to euro zone banks from the market turmoil, a source familiar with the content of the meeting told Reuters, adding that supervisors were told deposits remained stable across euro zone banks and exposure to Credit Suisse was immaterial. "I don't think we are in the crux of a global financial crisis. The ECB pressed forward with its 50 basis point rate hike, arguing that euro zone banks were in good shape and that if anything, higher rates should bolster their margins. Japan's finance ministry, financial regulator and central bank said they would meet on Friday to discuss developments.

March 17 (Reuters) - European Central Bank supervisors met to tackle growing cracks in the banking system on Friday after a $30 billion lifeline for U.S. lender First Republic Bank (FRC.N) eased fears of its imminent collapse. The rescue package came less than a day after Credit Suisse (CSGN.S) clinched an emergency central bank loan of up to $54 billion to shore up its liquidity. The two deals helped restore some calm to global markets, after a torrid week for banking stocks. "French and European banks are very solid," ECB policymaker and French central bank governor Francois Villeroy de Galhau, told BFM business radio. Japan's finance ministry, financial regulator and central bank said they would meet on Friday to discuss developments.

☆ G20 finance leaders to gauge toll on global economy on Ukraine war's anniversary
▼ + stars: | 2023-02-24 | by ( David Lawder | ) www.reuters.com time to read: +3 min

BENGALURU, Feb 24 (Reuters) - Global finance leaders will tally the economic damage from Russia's war in Ukraine on Friday as they meet on the conflict's first anniversary with some voicing concerns that more sanctions on Moscow would disrupt a modest improvement in growth. U.S. Treasury Secretary Janet Yellen on Thursday highlighted the improvement, saying the global economy "is in a better place today than many predicted just a few months ago". Yellen and fellow G7 ministers on Thursday called for more financial support for Ukraine and vowed to maintain tough sanctions on Russia. German Finance Minister Christian Lindner said the pressure on Russia must be kept high to "completely isolate" Russia's economy. Yellen said the communique was still under discussion and she hoped to see a strong condemnation of Russia's invasion and the damage it has caused Ukraine and the global economy.

Participants at the meeting, however, are likely to focus on the war in Ukraine. The G20 bloc includes the wealthy G7 democracies, as well as Russia, China, India, Brazil and Saudi Arabia. French Finance Minister Bruno Le Maire told Reuters that G20 financial leaders must condemn Russia's aggression against Ukraine and that Europe was working on new sanctions against Moscow. G7 chair Japan's finance minister, Sunichi Suzuki, told reporters that the group would closely monitor the effectiveness of sanctions and "take further actions as needed". German Finance Minister Christian Lindner said the pressure on Russia must be kept high to "completely isolate" Russia's economy.

☆ G7 raises Ukraine support to $39 bln for 2023, urges IMF programme by March
▼ + stars: | 2023-02-23 | by ( ) www.reuters.com time to read: +1 min

[1/2] FILE PHOTO-Flags are pictured during the first working session of G-7 foreign ministers in Muenster, Germany, November 3, 2022. Ukraine is hoping to clinch a $15 billion programme with the International Monetary Fund that will cover immediate financial assistance and support for structural reforms to underpin efforts at post-conflict rebuilding. "For 2023, based on the Government of Ukraine's needs, we have increased our commitment of budget and economic support to $39 billion," the statement said. The bloc's financial leaders have gathered in India's Bengaluru ahead of a meeting of financial chiefs of the Group of 20 (G20) nations. Japan's Finance Minister Shunichi Suzuki also told reporters that the G7 needs to assess the effectiveness of current sanctions on Russia before deciding on further action.

"India is not keen to discuss or back any additional sanctions on Russia during the G20," said one of the officials. "The existing sanctions on Russia have had a negative impact on the world." Japan's finance minister said on Tuesday that financial leaders of the Group of Seven (G7) nations will meet on the sidelines of the G20 meeting to discuss measures against Russia. "Russia themselves want to discuss the economic impact of sanctions." However, neither the Russian finance minister nor the central bank chief were expected to attend the meeting and they will be represented by their deputies.

[1/2] The Gateway of India monument in Mumbai is lit up to mark India's G20 presidency on December 13, 2022. REUTERS/Francis Mascarenhas/File PhotoBENGALURU, Feb 22 (Reuters) - India does not want the Group of 20 nations to discuss additional sanctions on Russia for its invasion of Ukraine during New Delhi's one-year presidency of the bloc, six senior Indian government officials told Reuters. "India is not keen to discuss or back any additional sanctions on Russia during the G20," said one of the officials. "The existing sanctions on Russia have had a negative impact on the world." India has also sharply raised purchases of oil from Russia, its biggest supplier of defence hardware.

☆ G-7 finance chiefs to meet on Feb. 23 to discuss measures against Russia
▼ + stars: | 2023-02-21 | by ( ) www.cnbc.com time to read: 1 min

Financial leaders of the Group of Seven will meet on Feb. 23 to discuss measures against Russia that will put pressure on it to end the Ukraine war, Japan's Finance Minister Shunichi Suzuki said on Tuesday. Japan will chair the meeting of finance ministers and central bank governors from the G7 nations in the Indian city of Bengaluru. The meeting will come almost a year since Russia invaded Ukraine, calling it a "special military operation." The war has raged on despite a slew of punitive measures G7 and other countries have taken against Russia. "Support for Ukraine and sanctions against Russia will be the main topics of discussion," Suzuki told a news conference.

☆ G7 finance chiefs to meet on Feb 23 to discuss measures against Russia
▼ + stars: | 2023-02-21 | by ( Tetsushi Kajimoto | ) www.reuters.com time to read: +2 min

Japan will chair the meeting of finance ministers and central bank governors from the G7 nations in the Indian city of Bengaluru. The meeting will come almost a year since Russia invaded Ukraine, calling it a "special military operation". The war has raged on despite a slew of punitive measures G7 and other countries have taken against Russia. Japan chairs G7 ministerial meetings this year in the run-up to the May 19-21 summit meeting of G7 leaders in Hiroshima. The Ukraine war and the global economy are expected to be the focus of the G20 talks.

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