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☆ Strong dollar sends yen to 11-month low, focus on intervention risks
▼ + stars: | 2023-09-25 | by ( Joice Alves | ) www.reuters.com time to read: +3 min

Japanese yen and U.S. dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken June 16, 2022. In the broader currency market, the dollar steadied after last week's gains as the Federal Reserve surprised markets by signalling U.S. rates would need to stay higher for longer than initially expected. The yen was last flat at 148.38 per dollar after falling to its lowest level of 148.49 per dollar since late October. "It is possible of course that exactly such fears of interventions might have prevented a weaker yen for now". The dollar index , which on Friday touched an over six-month high, firmed at 105.64 and was last 0.1% higher.

Persons: Florence Lo, Kazuo Ueda, Ueda, Esther Reichelt, Reichelt, Francois Villeroy de Galhau, Sterling, Joice Alves, Rae Wee, Ed Osmond Organizations: U.S, REUTERS, Bank of Japan, Federal Reserve, European Central Bank, Bank, Thomson Locations: Japan, London, Singapore

☆ Asian shares slip after brutal central bank week, yen in focus
▼ + stars: | 2023-09-25 | by ( Stella Qiu | ) www.reuters.com time to read: +5 min

A passerby walks past an electric monitor displaying various countries' stock price index outside a bank in Tokyo, Japan, March 22, 2023. S&P 500 futures , however, rose 0.3% while Nasdaq futures gained 0.4%, after Hollywood's writers union reached a preliminary labor agreement with major studios. In Asia, MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) dropped 0.5%, edging back to a 10-month low plumbed just last week. U.S. central bank officials will be out in force this week, starting with Minneapolis Fed President Neel Kashkari on Monday. Brent crude futures rose 0.6% to $93.79 per barrel.

Persons: Issei Kato, Kazuo Ueda, HSI, Louis Kuijs, Neel Kashkari, Andrew Lilley, Stella Qiu, Himani Sarkar, Jacqueline Wong Organizations: REUTERS, Bank of Japan, Nasdaq, Japan's Nikkei, Hengda, Estate Group Co, U.S, Minneapolis, European Central Bank, Brent, . West Texas, Thomson Locations: Tokyo, Japan, Europe SYDNEY, China, U.S, Europe, Asia, Pacific, firming, U.S . Federal

☆ Sliding yen raises intervention threat, dollar reigns
▼ + stars: | 2023-09-25 | by ( Rae Wee | ) www.reuters.com time to read: +4 min

Japanese yen and U.S. dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken June 16, 2022. "I don't think the level matters that much and will be the trigger (for intervention). Yellen said last week whether Washington would show understanding over another yen-buying intervention by Japan "depends on the details" of the situation. Elsewhere, the euro gained 0.05% to $1.0649, after having fallen to a six-month low of $1.0615 on Friday against a stronger dollar. The dollar index , which on Friday touched an over six-month high, firmed at 105.58.

Persons: Florence Lo, Kazuo Ueda, Governor Ueda, Carol Kong, Janet, Yellen, Sterling, Thierry Wizman, Rae Wee, Christopher Cushing Organizations: U.S, REUTERS, Rights, Bank of Japan, Reserve, Commonwealth Bank of Australia, Treasury, Bank, Fed, New Zealand, Thomson Locations: Rights SINGAPORE, Washington, Japan, U.S

☆ Asian shares fall after brutal central bank week, yen under spotlight
▼ + stars: | 2023-09-25 | by ( Stella Qiu | ) www.reuters.com time to read: +4 min

A passerby walks past an electric monitor displaying various countries' stock price index outside a bank in Tokyo, Japan, March 22, 2023. The yen was jittery near the closely watched 150 per dollar level amid intervention fears, after the Bank of Japan made no change to its dovish monetary policy. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) dropped 0.6%, edging closer to a ten-month low plumbed just last week. Bruce Kasman, chief economist at JPMorgan, expects good news from U.S. and European inflation results this week, which should show low core inflation readings. The yen last traded at 148.41 per dollar, after hitting a fresh 10-month low of 148.49 earlier in the day.

Persons: Issei Kato, Kazuo Ueda, Hong, HSI, Louis Kuijs, Andrew Lilley, Bruce Kasman, Stella Qiu, Sonali Paul, Himani Organizations: REUTERS, Rights, Bank of Japan, Japan's Nikkei, U.S, JPMorgan, U.S ., Brent, . West Texas, Thomson Locations: Tokyo, Japan, China, U.S, Europe, Asia, Pacific, U.S . Federal

☆ Sliding yen stokes intervention threat; dollar reigns
▼ + stars: | 2023-09-25 | by ( Rae Wee | ) www.reuters.com time to read: +4 min

Japanese yen and U.S. dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken June 16, 2022. "I don't think the level matters that much and will be the trigger (for intervention). Yellen said last week whether Washington would show understanding over another yen-buying intervention by Japan "depends on the details" of the situation. Elsewhere, the euro gained 0.04% to $1.0649, after having fallen to a six-month low of $1.0615 on Friday against a stronger dollar. The dollar index , which on Friday touched an over six-month high, firmed at 105.57 in early Asia trade.

Persons: Florence Lo, Kazuo Ueda, Governor Ueda, Carol Kong, Janet, Yellen, Sterling steadied, Thierry Wizman, Rae Wee Organizations: U.S, REUTERS, Rights, Bank of Japan, Reserve, Commonwealth Bank of Australia, Treasury, Bank, Fed, New Zealand, Thomson Locations: Rights SINGAPORE, Washington, Japan, U.S, Asia

☆ Sliding yen stokes intervention threat, dollar reigns
▼ + stars: | 2023-09-25 | by ( ) www.cnbc.com time to read: +3 min

An employee counts Japanese 10,000 yen banknotes at the Birdy Exchange in Hong Kong, China. Several factors were supporting the recovery in the Japanese yen on Tuesday. Yellen said last week whether Washington would show understanding over another yen-buying intervention by Japan "depends on the details" of the situation. Elsewhere, the euro gained 0.04% to $1.0649, after having fallen to a six-month low of $1.0615 on Friday against a stronger dollar. The dollar index , which on Friday touched an over six-month high, firmed at 105.57 in early Asia trade.

Persons: Kazuo Ueda, Governor Ueda, Carol Kong, Janet, Yellen, Sterling steadied, Thierry Wizman Organizations: Birdy, Bank of Japan, Reserve, Commonwealth Bank of Australia, U.S, Treasury, Bank, Fed, New Zealand Locations: Hong Kong, China, Washington, Japan, U.S, Asia

☆ BOJ chief warns of highly uncertain wage, price outlook
▼ + stars: | 2023-09-25 | by ( Leika Kihara | ) www.reuters.com time to read: +3 min

The key to the outlook for monetary policy is whether strong wage growth and consumption, rather than cost pressures from rising import costs, become the key driver of inflation, Ueda said. Ueda said the BOJ was "not fully convinced" that wage hikes would keep accelerating, as many companies seemed undecided on their wage strategy for next year and beyond. That's why we are supporting demand and the broader economy with easy monetary policy," he added. While stressing the need to keep ultra-loose policy for now, Ueda said it was "extremely important" to weigh the benefits and costs of its policy. On the yen's recent falls, Ueda said the BOJ was keeping a close eye on their impact on economic and price developments.

Persons: Kazuo Ueda, Kim Kyung, Ueda, Shingo Torii, Leika Kihara, Chang, Ran Kim, Sam Holmes, Ed Osmond Organizations: Japan, REUTERS, Ueda, Bank of Japan, Panasonic, Osaka Chamber of Commerce and Industry, Thomson Locations: Tokyo, Japan, Ueda OSAKA, Osaka

☆ Dollar up as data highlights US economic resilience; yen slumps
▼ + stars: | 2023-09-22 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +4 min

Banknotes of Japanese yen and U.S. dollar are seen in this illustration picture taken September 23, 2022. The data comes on the heels of disappointing data from Europe, which showed that economic activity in France fell much more quickly than expected in September. Separate survey data covering the whole euro zone showed that the economy likely contracted in the third quarter. The yen dropped as low as 148.42 to the dollar, nearing the 150-mark at which analysts have said government intervention to prop up the currency is likely. BOJ maintains ultra-low interest ratesMeanwhile, sterling was 0.47% lower at $1.2237 after data showed that the UK economy slowed sharply in September and is likely on the brink of recession.

Persons: Florence Lo, Michael Brown, Brown, Michelle Bowman, Kazuo Ueda, we've, Alvin Tan, Shunichi Suzuki, BoE, Saqib Iqbal Ahmed, Harry Robertson, Rae Wee, Sharon Singleton, Matthew Lewis Organizations: U.S, REUTERS, P Global, Federal, Trader, Federal Reserve, Bank of Japan, Asia FX, RBC Capital Markets, Bank of England, Thomson Locations: United States, U.S, Europe, France, Asia, Tokyo, New York, London, Singapore

Banknotes of Japanese yen and U.S. dollar are seen in this illustration picture taken September 23, 2022. The BOJ held interest rates at -0.1% on Friday and reiterated its pledge to keep supporting the economy until it's confident inflation will stay at the 2% target. "We have yet to foresee inflation stably and sustainably achieve our price target," BOJ Governor Kazuo Ueda said in a press conference. The yen dropped as low as 148.42 to the dollar, nearing the 150-mark at which analysts have said government intervention to prop up the currency is likely. It was on track to eke out a weekly increase of around 0.2%, its 10th rise in as many weeks.

Persons: Florence Lo, Kazuo Ueda, we've, Alvin Tan, Shunichi Suzuki, RBC's Tan, Treasuries, Ray Sharma, Ong, Sterling, BoE, Harry Robertson, Rae Wee, Christopher Cushing, Sonali Paul, Christina Fincher Organizations: U.S, REUTERS, Bank of Japan, Federal Reserve, Asia FX, RBC Capital Markets, Japan's Finance, Ministry, Finance, Bank of England, Thomson Locations: SINGAPORE, France, Asia, Tokyo, London, Singapore

☆ Asia stocks find footing, yen slides as BOJ holds the line
▼ + stars: | 2023-09-22 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

A man is reflected on an electric stock quotation board outside a brokerage in Tokyo, Japan April 18, 2023. The BOJ, as expected, maintained super-low interest rates, left its yield control policy unchanged, signalling it was in no rush to phase out its massive monetary stimulus. A surge in oil prices has also been unnerving investors, since it is likely to prolong the inflation pulse. Brent crude futures steadied at $93.51 a barrel on Friday and are up nearly 8% for September so far. Elsewhere in foreign exchange markets the expectation of sticky U.S. interest rates has supported the dollar, which reached a six-month peak on the euro overnight at $1.0671 .

Persons: Issei Kato, Kazuo Ueda, Ray Attrill, Andrew Bailey, Craig Ebert, Tom Westbrook, Edmund Klamann, Kim Coghill Organizations: REUTERS, Rights, Bank of Japan, FX, National Australia Bank, Japan's Nikkei, Seng, Federal Reserve, Bank of, Swiss National Bank, Brent, JPMorgan, Thomson Locations: Tokyo, Japan, Rights SINGAPORE, Singapore, Asia, Pacific, Hong Kong, China, Bank of England, Central, Sweden, Norway, BNZ, Wellington

☆ Yen falls after BOJ stands pat on easy policy; dollar elevated
▼ + stars: | 2023-09-22 | by ( Rae Wee | ) www.reuters.com time to read: +4 min

Banknotes of Japanese yen and U.S. dollar are seen in this illustration picture taken September 23, 2022. The yen last bought 148.09 per U.S. dollar. Sterling similarly eked out a 0.3% gain against the Japanese currency to trade at 181.80 yen. "I guess people were expecting the BOJ to leave policy unchanged but perhaps tweak the wording a bit to remove the accommodative stance." The New Zealand dollar edged 0.08% higher to $0.5936 and was eyeing a weekly gain of more than 0.5%.

Persons: Florence Lo, Kazuo Ueda, Sterling, Siong Sim, Shunichi Suzuki, Ray Sharma, Ong, BoE, Daniela Hathorn, Rae Wee, Christopher Cushing Organizations: U.S, REUTERS, Rights, Bank of Japan, Bank of Singapore, Treasury, Federal Reserve, Japan's Finance, New Zealand, Fed, Bank of England, Capital.com, Thomson Locations: Rights SINGAPORE

The data comes hours before the Bank of Japan (BOJ) concludes its two-day policy meeting that began on Thursday. While government subsidies pushed down utility bills, prices rose for a range of food and daily necessities in a sign that steady inflation was taking hold in the world's third-largest economy. "The persistent stickiness of inflation means the BOJ will need to revise up their inflation forecasts at its October meeting," said Gabriel Ng, an economist at Capital Economics. After hitting a peak of 4.2% in January, core inflation continued to slow as the effects of last year's sharp rises in fuel and raw material prices dissipate. But some analysts say the slowdown has not been as large as expected due to steady rises in food prices, and could keep inflation above the BOJ's target longer than initially thought.

Persons: Kazuo Ueda, Gabriel Ng, Ueda, Leika Kihara, Shri Navaratnam, Sam Holmes Organizations: Bank of Japan, Capital Economics, Thomson Locations: TOKYO

☆ Asia markets poised for fall ahead of Bank of Japan rate decision
▼ + stars: | 2023-09-22 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Asia-Pacific markets are set to fall ahead of the Bank of Japan's rate decision, which investors will be closely watching to determine if the central bank will make any change to its ultra-easy monetary policyA poll of Reuters economists showed that economists all expect the BOJ to hold its benchmark policy rate at -0.1%. BOJ Governor Kazuo Ueda has maintained that an ultra-easy monetary policy is needed until Japan sees a sustained inflation at 2%. Japan's headline inflation figures have remained above this target since April 2022, with the latest reading coming in at 3.2% for August.

Persons: Kazuo Ueda Organizations: Bank of Locations: Asia, Pacific, Japan

☆ Japanese yen weakness may force BOJ tightening sooner than expected
▼ + stars: | 2023-09-22 | by ( Clement Tan | ) www.cnbc.com time to read: +4 min

watch nowThe Bank of Japan could be forced into hiking rates sooner than expected, if the Japanese yen weakens beyond 150 to the dollar. The BOJ stands as an outlier as major central banks have hiked rates aggressively to combat burgeoning inflation. Decades of accommodative monetary policy in Japan — even as other global central banks tightened policy in the last 12 months — have concentrated carry trades in the Japanese yen. The Japanese yen slipped about 0.4% to around 148.16 against the dollar on Friday after the BOJ kept its negative rates unchanged, after the yen tested its lowest in almost 10 months at 148.47 per dollar Thursday. While a weaker yen makes Japanese exports cheaper, it also makes imports more expensive, given that most major economies are struggling to contain stubbornly high inflation.

Persons: Bob Michele, Michele, Kazuo Ueda's, Ueda Organizations: Bank of Japan, U.S . Federal Reserve, Morgan Asset Management, CNBC, Afp, Getty, Yomiuri Shimbun Locations: Bank, Japan, Tokyo, Central

☆ Bank of Japan leaves rates unchanged, maintaining ultra-loose monetary policy
▼ + stars: | 2023-09-22 | by ( Clement Tan | ) www.cnbc.com time to read: +3 min

Javier Ghersi | Moment | Getty ImagesJapan's central bank maintained its ultra-loose policy and left rates unchanged on Friday, mindful of the "extremely high uncertainties" on the growth outlook domestically and globally. In a policy statement after its September meeting, the Bank of Japan said it would maintain short-term interest rates at -0.1%, and cap the 10-year Japanese government bond yield around zero, as widely expected. The yield curve control is a policy tool where the central bank targets an interest rate, and then buys and sells bonds as necessary to achieve that target. Wage growth, output gap — which measures the difference between an economy's actual and potential output — and price expectations are among factors the Bank of Japan has prioritized as meaningful inflation drivers. Japan needs to see meaningful and sustained wage inflation, which can have a psychological impact on consumption," he said.

Persons: Javier Ghersi, Kazuo Ueda's, Ueda's, Ueda, Bank of Japan's, Oliver Lee, it's Organizations: Bank of Japan, Bank, Yomiuri Shimbun, Bank of, Eastspring Investments Locations: Japan

☆ Morning Bid: Bank of Japan also holds policy and stays dovish
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +3 min

Japanese national flag is hoisted atop the headquarters of Bank of Japan in Tokyo, Japan September 20, 2023. The yen fell in response, even as Finance Minister Shunichi Suzuki spoke of the urgency to contain its fall. A majority of economists polled by Reuters expect the central bank will abolish the 10-year yield control scheme by the end of 2024. More than half reckon that the negative interest rate policy will end next year, too. Further complicating the picture for investors, however, were the surprisingly dovish decisions from the Bank of England and the Swiss National Bank.

Persons: Issei Kato, Vidya Ranganathan, Shunichi Suzuki, Kazuo Ueda, Bond, Fumio Kishida, Edmund Klamann Organizations: Bank of Japan, REUTERS, Reuters, MSCI's, Bank of England, Swiss National Bank, JPMorgan, Thomson Locations: Tokyo, Japan, Vidya, MSCI's Asia, India, Australia, Germany, France, Britain

☆ BOJ to heighten scrutiny on rising prices, yields at policy meeting
▼ + stars: | 2023-09-21 | by ( Leika Kihara | ) www.reuters.com time to read: +3 min

All economists surveyed in a Reuters poll expect the central bank to maintain its short-term interest rate target of -0.1% and that for the 10-year bond yield around 0%. Ueda told a recent interview the BOJ could have enough data by year-end to determine whether to end negative rates, heightening market expectations of a near-term policy shift. A Reuters poll for September showed most economists predicting an end to negative interest rates in 2024. Growing prospects of longer-for-higher U.S. interest rates have pushed the yen down near the 150-per-dollar level seen as Tokyo’s line-in-the-sand for possible currency intervention. Mari Iwashita, chief market economist at Daiwa Securities, expects the BOJ to tweak its dovish forward guidance in October and end its negative rate policy early next year.

Persons: Issei Kato, Kazuo Ueda’s, Ueda, Haruhiko, Mari Iwashita, ” Organizations: Bank of, Bank of Japan, REUTERS, Daiwa Securities Locations: TOKYO, Bank of Japan, Tokyo, Japan, U.S

☆ BOJ keeps ultra-loose policy, dovish guidance on outlook
▼ + stars: | 2023-09-21 | by ( Leika Kihara | Tetsushi Kajimoto | ) www.reuters.com time to read: +3 min

FILE PHOTO: Japanese national flag is hoisted atop the headquarters of Bank of Japan in Tokyo, Japan September 20, 2023. It also left unchanged an allowance band of 50 basis point set either side of the yield target, as well as a new hard cap of 1.0% adopted in July. A Reuters poll for September showed most economists predicting an end to negative interest rates in 2024. But some analysts see the yen, rather than wage growth or inflation, as the primary trigger for BOJ action. Growing prospects of higher-for-longer U.S. interest rates have pushed the yen down near the 150-per-dollar level, seen as Tokyo’s line-in-the-sand for possible currency intervention.

Persons: Issei Kato, Kazuo Ueda’s, Ueda, Haruhiko Organizations: Bank of Japan, REUTERS Locations: TOKYO, Tokyo, Japan, “, U.S

☆ Global central banks unite in "higher for longer" credo
▼ + stars: | 2023-09-21 | by ( Mark John | ) www.reuters.com time to read: +6 min

The so-called "higher for longer" mantra is now the official stance of the U.S. Federal Reserve, European Central Bank and the Bank of England, as well as being echoed by monetary policy-makers from Oslo to Tapei. U.S. Federal Reserve policymakers had a similar message on Wednesday. Turkey's central bank confirmed its hawkish turn while in Asia, Taiwan's central bank flagged continued tight policy. Reuters Graphics"TIPPING POINT"Belgian central bank chief and ECB board member Pierre Wunsch - an early voice urging tougher central bank action to counter inflation from end-2021 - said on Thursday that monetary policy was now at the right level. That said, the prospect that global interest rates are pretty close to peak will be of huge relief to emerging economies suffering from heavy debt servicing loads.

Persons: Jerome Powell, Christine Lagarde, Kazuo Ueda, Ann, BoE, Andrew Bailey, Pierre Wunsch, Wunsch, COVID lockdowns, Jerome, Powell, Krishna Guha, Howard Schneider, Balazs Koranyi, Catherine Evans Organizations: European Central Bank, Bank of Japan, Kansas City Federal, REUTERS, U.S . Federal Reserve, Bank of England, U.S . Federal, Swiss National Bank, South African Reserve Bank, People's Bank of, Reuters, ECB, Reuters Global Markets, Economics, Sterling, Swiss, United, Thomson Locations: Jackson Hole , Wyoming, U.S, Central, Oslo, Tapei, Europe, Norway, Sweden, Asia, People's Bank of China, Belgian, United States, Ukraine, Washington, Frankfurt, London, Stockholm, Zurich, Ankara

☆ Morning Bid: Fed fireworks set nervy stage for BoE
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +2 min

Reuters GraphicsU.S. yields pushed even higher in the Asian time zone, while U.S. stock futures pointed lower. Asian shares slumped region-wide (.MIAP00000PUS) - including a 1% slide for Japan's Nikkei - while crude oil extended its retreat from a 10-month peak. But the BoE is actually the last of the European central banks to set policy on Thursday, with the SNB and Riksbank kicking things off, followed shortly by Norges Bank. This week's central bank bonanza doesn't end in Europe either. Japan's currency, though, is at the mercy of the dollar, sinking to the weakest since the start of November to 148.465 yen , increasing the risk of central bank intervention.

Persons: Kevin Buckland, Jay Powell, BoE, Kazuo Ueda, Jacqueline Wong Organizations: Federal Reserve, Bank of England, Reuters Graphics, Japan's Nikkei, Norges Bank, of, Yomiuri, Swiss National Bank, Thomson Locations: Europe

Oil prices continued to push higher, with the international benchmark Brent crude price moving past $95 to its highest since November 2022. Reuters GraphicsInvestors and central bankers are contending with a sharp rise in oil prices as demand has picked up but Saudi Arabia and Russia have limited supply. Samuel Zief, head of global FX strategy at JPMorgan Private Bank, said central banks should not be overly concerned by the run-up in oil prices, which he said should fade as economies slow. "What the central banks are really, really focused on, it's not really the supply-side energy shocks anymore, it's really the sticky services part of the inflation basket," he said. "Pick whatever central bank you want, they're talking about either they're done already or they'll do one more hike and they'll go on pause."

Persons: Germany's DAX, Duncan MacInnes, Jerome Powell's, Samuel Zief, it's, Kazuo Ueda, Harry Robertson, Kevin Buckland, Lewis Jackson, Stephen Coates, Bernadette Baum, Chizu Organizations: Federal Reserve, Bank of England, Bank of Japan, Brent, FTSE, Nasdaq, Reuters Graphics Investors, . West Texas, JPMorgan Private Bank, of England, Bank of, Japan's Nikkei, Tokyo, Reuters, Thomson Locations: TOKYO, Asia, Japan, U.S, Saudi Arabia, Russia, Bank of Japan, London, Tokyo

☆ Euro gains, yen struggles in central bank-packed week
▼ + stars: | 2023-09-19 | by ( Amanda Cooper | ) www.reuters.com time to read: +4 min

A Reuters report on Monday citing six sources said the debate over the multi-trillion-euro pool of excess liquidity sloshing around banks was likely to start next month. However, this might not be enough to give the euro a more sustained boost, according to Lee Hardman, a strategist at MUFG. "While the ECB’s reported plans to tighten excess liquidity in the euro area have helped to support the euro, they are unlikely to be sufficient on their own to turn the current weakening trend," he said. This week brings a raft of central bank meetings, including those of the Federal Reserve, the Bank of Japan, the Bank of England and the Swiss National Bank, among others, which kept currency volatility on the subdued side. In other currencies, sterling edged up 0.1% at $1.2398, ahead of an interest rate decision from the BoE on Thursday.

Persons: Dado Ruvic, Lee Hardman, Kazuo Ueda, Rodrigo Catril, Erik Weisman, BoE, Rae Wee, Lincoln, Peter Graff, Hugh Lawson Organizations: REUTERS, European Central Bank, Reuters, ECB, Federal Reserve, Bank of Japan, Bank of England, Swiss National Bank, National Australia Bank, NAB, U.S, Fed, MFS Investment Management, Thomson Locations: U.S

☆ Yen flounders, dollar drifts ahead of c.bank bonanza
▼ + stars: | 2023-09-19 | by ( Rae Wee | ) www.reuters.com time to read: +4 min

U.S. Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. The yen fell 0.1% to 147.76 per dollar and was kept pinned near last week's 10-month low of 147.95 per dollar. The euro meanwhile gave up some of its gains from the previous session and was last 0.12% lower at $1.0678. It had risen alongside euro zone government bond yields on Monday, following hawkish comments from European Central Bank (ECB) policymakers that further rate increases were on the cards. In other currencies, sterling edged 0.04% higher to $1.2390, ahead of an interest rate decision from the Bank of England (BoE) also due this week.

Persons: Dado Ruvic, Kazuo Ueda, Rodrigo Catril, Erik Weisman, NAB's Catril, BoE, Rae Wee, Lincoln Organizations: REUTERS, Rights, Federal, Wednesday, Bank of Japan's, National Australia Bank, NAB, Reserve Bank of Australia's, U.S, New Zealand, Fed, MFS Investment Management, European Central Bank, ECB, Reuters, Bank of England, Thomson Locations: Rights SINGAPORE, Asia

☆ Japan's central bank will keep stimulus for now as risks grow
▼ + stars: | 2023-09-19 | by ( Leika Kihara | ) www.reuters.com time to read: +3 min

A man walks in front of the headquarters of Bank of Japan in Tokyo, Japan, January 18, 2023. Many central bank policymakers prefer to hold fire until there is more clarity on whether Japan's fragile economy can weather the hit from slowing U.S. and Chinese demand, they say. "Uncertainty over the global outlook is very high, posing a huge risk to Japan's economy," one of the sources said. At the two-day meeting ending on Friday, the BOJ is widely expected to maintain its short-term interest rate target of -0.1% and that for the 10-year bond yield around 0%. It is also seen leaving unchanged guidance pledging to keep intact its bond yield control policy until inflation stably hits the bank's 2% target, the sources said.

Persons: Issei Kato, Ueda, Kazuo Ueda, Haruhiko, Leika Kihara, Sam Holmes Organizations: Bank of Japan, REUTERS, Bank of, Thomson Locations: Tokyo, Japan, TOKYO, Bank of Japan, United States

☆ Euro gains; yen flounders ahead of c.bank bonanza
▼ + stars: | 2023-09-19 | by ( ) www.cnbc.com time to read: +3 min

In this photo illustration, banknotes of Euro, Japanese Yen, Chinese Yuan and US dollar bill are placed under one-ounce silver bullion coins arranged on February 20, 2021 in Katwijk, Netherlands. The euro clung to gains on Tuesday following hawkish comments from European Central Bank, or ECB, policymakers, while the yen languished near a 10-month low ahead of a key rate decision from the Bank of Japan, or BOJ, later in the week. In Asia, the yen slipped marginally to 147.64 per dollar and was kept pinned near last week's 10-month low of 147.95 per dollar. Elsewhere, the U.S. dollar edged broadly lower, though strayed not too far from a six-month peak hit against its major peers last week ahead of the Fed's interest rate decision on Wednesday. Sterling edged 0.04% higher to $1.2390, ahead of an interest rate decision from the Bank of England, or BoE, also due this week.

Persons: Yuan, Rodrigo Catril, Kazuo Ueda, Erik Weisman, BoE Organizations: European Central Bank, Bank of Japan, Federal Reserve, ECB, National Australia Bank, Reuters, U.S, New Zealand, Fed, MFS Investment Management, Bank of England Locations: Katwijk , Netherlands, Asia

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