We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
Oil - US Crude
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • The $USD faces selling pressure against the Malaysian Ringgit and Philippine Peso. More losses may be in store in $USDMYR as $USDPHP descends through rising support from 2013. Get your market update from @ddubrovskyFX here: https://t.co/t3kmFpmg1w https://t.co/miBrgxmtkA
  • $AUDJPY has launched yet another attempt to breach a multi-month downward trend resistance after failing to break above it in September. Will two consecutive defeats precede a reversal lower? Find out from @ZabelinDimitri here: https://t.co/b3nWUu0QZy https://t.co/Lj0ZSWOdp1
  • The #Euro has breached resistance guiding it lower for nearly four months, setting the stage for gains. Any near-term rise is unlikely to derail the long-term downtrend, however. Get your Euro market update here: https://t.co/gl9VRc3XEp https://t.co/K2mQuEolQc
  • We just closed out the $DXY's worst weekly tumble since January 2018...and it still hasn't cleared this frustratingly restrictive channel https://t.co/cJedpn0g8D
  • Heads Up:🇬🇧 GBP U.K. Government Sits to Discuss Brexit due at 23:01 GMT (15min) https://www.dailyfx.com/economic-calendar#2019-10-18
  • “Gold Price Charts on Cusp of Major Breakout” - via @DailyFX Check out the preview of this week’s technical outlook for $XAUUSD below. Link to full analysis: https://www.dailyfx.com/forex/technical/article/fx_technical_weekly/2019/10/18/xau-usd-xauusd-gold-price-charts-on-the-cusp-of-a-major-breakout.html https://t.co/7X6nkafn7D
  • With a #Brexit deal in focus and the US-China trade war de-escalating, G10 currencies’ central banks’ rate cut odds have receded. Get your market update from @CVecchioFX here: https://t.co/k7XkyKD7iW https://t.co/vaZV1vSWjP
  • ECB President Lagarde says Trump should stop criticizing the Fed with tweets -BBG
  • Politics continues to dictate volatility in the $GBP with option premiums at the highest since the 2016 EU referendum. Get your market update from @JMcQueenFX here:https://t.co/cpApmLPBgR https://t.co/vwpmpyZOam
  • The US Citi Economic Surprise Index dropped to 8 today, down from 44.9 on September 26th https://t.co/y3Jk0TUhJk
USD/JPY Rise Goes On, BOJ Summary Shrugged Off

USD/JPY Rise Goes On, BOJ Summary Shrugged Off

2016-11-10 04:27:00
David Cottle, Analyst

Talking Points:

  • USD/JPY soared as the risk-off bid after Trump’s shock win unwound
  • Bank of Japan policymakers saw continued threats to its inflation target
  • Summary of Opinions passed unnoticed as markets focused elsewhere

The US Dollar continued to push higher against the Japanese Yen on Thursday, unaffected by the release of the Bank of Japan’s latest “Summary of Opinions” from its last policy meeting.

Unsurprisingly, the currency pair remains focused on the US presidential vote and Donald Trump’s shock Wednesday defeat of market favorite Hilary Clinton.

The Summary of Opinions came from the Bank of Japan’s last monetary policy meeting, which took place on October 31 and November 1. So, they already look rather dated given events since.

The Summary suggested that momentum toward price stability has been maintained but had become “somewhat weak” lately.

The central bank doubted that inflation would reach 2% within its projection period, partly because of a cautious outlook on inflation expectations.

However, it suggested that its policy framework was functioning well, as evidenced by limited movements in market-implied interest rates.

The Summary is a recent innovation, introduced in January of this year. Its aim was to increase the transparency around policymaking.

The Summary’s release had little obvious effect on a Yen,but it’s doubtful that anything could have made a significant splash given the current strength of the “Trump trade.”

Trump’s conciliatory victory speech seems to have steadied market nerves. His shock win on Wednesday prompted a rush into perceived haven assets like the Yen, and out of stocks. However, that process is seeing a substantial reverse.

USD/JPY is now trading around 105.90 having bounced from its Wednesday low of 102.99. If it pushes up into the 106 handle it will be printing multi-month highs.

USD/JPY still rising

USD/JPY Rise Goes On, BOJ Summary Shrugged Off

Chart created using TradingView

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.


News & Analysis at your fingertips.