Yen Reverses Gains Following BoJ Summary Of Options
The yen dropped against its major counterparts in the European
session on Thursday, as the Bank of Japan Summary of Opinions from
the January meeting showed that the central bank is determined to
maintain its current monetary policy, including the conduct of
yield curve control.
The modification of the conduct of yield curve control decided
at the previous meeting is a measure that is aimed solely at making
monetary easing more sustainable through improvement in the
functioning of financial markets, the summary showed.
"The Bank should continue to communicate to the public that, at
the previous MPM, it maintained its accommodative monetary policy
stance by deciding to increase the amount of JGB purchases while
expanding the range of 10-year JGB yield fluctuations from the
Data from the Bank of Japan showed that Japan producer prices
climbed 1.5 percent on year in December - shy of expectations for
an increase of 1.6 percent and slowing from 1.7 percent in
On a monthly basis, producer prices rose 0.1 percent, easing
from 0.2 percent in the previous month.
The yen fell to 141.75 against the euro and 129.99 against the
greenback, off its early high of 140.87 and a multi-day high of
129.02, respectively. The yen is poised to challenge support around
143.5 against the euro and 134.00 against the greenback.
The yen edged down to 84.32 against the kiwi, 92.43 against the
aussie and 97.03 against the loonie, reversing from its early highs
of 83.58 and 91.64 and a multi-day high of 96.29, respectively. The
currency may challenge support around 86.00 against the kiwi, 96.00
against the aussie and 99.00 against the loonie, if it weakens
The yen dropped to 2-day lows of 161.20 against the pound and
141.52 against the franc, from its early highs of 160.00 and
140.63, respectively. The next possible support for the yen is seen
around 165.00 against the pound and 144.00 against the franc.
Looking ahead, Canada wholesale sales for December, U.S. GDP
data for the fourth quarter, weekly jobless claims for the week
ended January 21 and new home sales, durable goods orders,
wholesale inventories and advance goods trade balance, all for
December, are due in the New York session.
Euro vs Yen (FX:EURJPY)
Von Nov 2023 bis Dez 2023
Euro vs Yen (FX:EURJPY)
Von Dez 2022 bis Dez 2023