News & Analysis at your fingertips.

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.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bearish
Low
High
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
Oil - US Crude
Bearish
Wall Street
Mixed
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • Commodities Update: As of 08:00, these are your best and worst performers based on the London trading schedule: Gold: -0.34% Oil - US Crude: -1.07% Silver: -2.30% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/kzkv6B5WvQ
  • Brush up your knowledge on #tradewars with this tool from DailyFX research briefly outlining trade-war history dating back to the early 1900s here: https://t.co/ZWaL6laTU5 https://t.co/Db6v6JVLAC
  • Forex Update: As of 08:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: -0.07% 🇨🇭CHF: -0.26% 🇬🇧GBP: -0.28% 🇦🇺AUD: -0.29% 🇪🇺EUR: -0.32% 🇳🇿NZD: -0.58% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/bSIASt7QtO
  • 🇪🇸 Unemployment Change (FEB) Actual: 44.4K Previous: 76.2K https://www.dailyfx.com/economic-calendar#2021-03-02
  • Indices Update: As of 08:00, these are your best and worst performers based on the London trading schedule: FTSE 100: -0.28% France 40: -0.30% Germany 30: -0.30% Wall Street: -0.41% US 500: -0.55% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/D4QJ0kGpbS
  • Heads Up:🇪🇸 Unemployment Change (FEB) due at 08:00 GMT (15min) Previous: 76.2K https://www.dailyfx.com/economic-calendar#2021-03-02
  • #Bitcoin, #Ethereum Forecast: BTC/USD, ETH/USD Bullish Reversal at Hand? - https://www.dailyfx.com/forex/market_alert/2021/03/02/Bitcoin-Ethereum-Forecast-BTCUSD-ETHUSD-Bullish-Reversal-at-Hand.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Moss&utm_campaign=twr $BTC $ETH $BTCUSD $ETHUSD https://t.co/Pdgnmg5zIV
  • Make smart trading decisions with your free guide to trade the news. Download your free guide here.https://t.co/pb5E2KgRzW #DailyFXGuides https://t.co/xaTWTOPNgw
  • 🇩🇪 Retail Sales YoY (JAN) Actual: -8.7% Expected: 1.3% Previous: 2.8% https://www.dailyfx.com/economic-calendar#2021-03-02
  • 🇩🇪 Retail Sales YoY (JAN) Actual: -8.7% Expected: 1.3% Previous: 1.5% https://www.dailyfx.com/economic-calendar#2021-03-02
Japanese Yen Ticks Down, BoJ Opinions Show Stimulus Will Stay

Japanese Yen Ticks Down, BoJ Opinions Show Stimulus Will Stay

David Cottle, Analyst

Talking Points:

  • The summary of opinions from the BoJ’s June policy meet showed no sign of any stimulus exit plans
  • With inflation so far below target, it must be arguable that they were never going to
  • The BoJ is resolved to stick with extraordinarily loose policy

Get trading guidance and live coverage of all major, market-moving Asia/Pacific economic events at the Daily FX webinars

The Japanese Yen was a little weaker against the US Dollar Monday following the release of a Bank of Japan report which showed that any exit from extraordinarily loose monetary policy remains a way off.

The BoJ’s “Summary of Opinions” from June 15 and 16’s policy conclave found rate-setters in broad agreement that the most effective way to hit the 2% annualized inflation target was to continue current policy.

It also said that private consumption appeared to be gaining momentum but that, while small and medium-sized firms were raising wages, generally higher wage levels remained elusive.

The Summary is released weeks before the actual minutes of a meeting. It gives markets a chance to assess the broad themes discussed. June saw no alteration in any of the BoJ’s settings and, indeed, was not expected to.

There had been some talk in local media about the possibility of at least a discussion about an “exit strategy” from some stimulus. The central bank’s balance sheet has been swollen by its own bond buying efforts to the point where it rivals Japan’s annual Gross Domestic Product.

However, while this is not a good look, with consumer prices rising by just 0.4% on the year it seems highly unlikely that exit strategies will be needed for the foreseeable future.

USD/JPY rose in the wake of the Summary’s release, but in truth there was nothing new here for markets. Investors are all-but certain that the BoJ will stick with its easing program into 2018 and probably beyond.

Japanese Yen Ticks Down, BoJ Opinions Show Stimulus Will Stay

--- Written by David Cottle, DailyFX Research

Contact and follow David on Twitter:@DavidCottleFX

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

DISCLOSURES