Forex

Can the BoJ prevent JPY depreciation now? UBS discusses May 13, 2024 12:00PM

With the recent challenges facing Japan's economy, questions have arisen regarding the Bank of Japan's (BoJ) ability to prevent further depreciation of the Japanese Yen (JPY).

According to analysts at UBS, they expect a contraction of 1.9% quarter-on-quarter GDP seasonally adjusted annual rate (saar). This primarily stems from disruptions in production and shipments within the automotive sector. However, they note that sluggishness in consumption persists, even... (continue reading...)

Dollar just lower; steadying after key inflation data May 13, 2024 05:25AM

Investing.com - The U.S. dollar drifted marginally lower Monday, consolidating after recent swings as the focus turned squarely to upcoming U.S. inflation data for more cues on interest rates. 

At 04:00 ET (09:00 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded just 0.1% lower to 105.090, after a weekly gain last week after two successive weeks of decline.

Dollar awaits key inflation data

The dollar saw wild swings... (continue reading...)

Asia FX edges lower, dollar steadies with inflation on tap May 13, 2024 04:07AM

Investing.com-- Most Asian currencies moved in a flat-to-low range on Monday, while the dollar steadied from recent swings as focus turned squarely to upcoming U.S. inflation data for more cues on interest rates. 

Middling Chinese inflation data weighed on the yuan, while also sparking mild weakness in other China-exposed currencies. 

Chinese yuan weak amid middling inflation, trade fears 

The yuan’s USDCNY pair rose 0.1% on Monday, hitting a two-week high after... (continue reading...)

Dollar eases as market awaits key inflation data May 12, 2024 09:06PM

By Herbert Lash and Samuel Indyk

NEW YORK/LONDON (Reuters) - The dollar eased versus most major currencies on Monday amid expectations key U.S. data this week will show a slowing pace of inflation and growth at a time European economies have surprised to the upside and could be bolstered by interest rate cuts.

The dollar has outperformed this year on the narrative of U.S. exceptionalism, as much of the world was still in recovery mode... (continue reading...)

More yen weakness likely - BOA Securities survey May 10, 2024 12:20PM

Investing.com - More Japanese yen weakness looks likely, according to Bank of America Securities, citing its latest foreign exchange and rates sentiment survey.

At 10:25 ET (14:25 GMT), USD/JPY traded 0.2% higher at ¥155.83, with the pair having gained just under 2% this week as yen weakness returned.

Japanese authorities are seen having spent almost $60 billion the previous week pulling the yen away from a 34-year-low of ¥160.24 versus the dollar.

The bank’s survey... (continue reading...)