Japanese Yen Climbs In Cautious Trade
20 Mars 2023 - 08:29AM
RTTF2
The Japanese yen strengthened against its major counterparts in
the European session on Monday, as a takeover of Credit Suisse by
UBS and the combined efforts of major central banks to avert a
liquidity crisis failed to cheer investors.
The U.S. Federal Reserve announced that it would increase the
frequency of dollar swap line operations with the European Central
Bank, the Bank of Japan, the Bank of England, the Bank of Canada
and the Swiss National Bank to shore up liquidity conditions.
Investors digested the merger agreement between UBS and Credit
Suisse in an attempt to secure financial stability.
Traders also looked ahead to Wednesday's US Federal Reserve's
monetary policy announcement, expecting the Fed to raise interest
rate by 25 basis points.
CME Group's FedWatch tool currently indicates a 43.2 percent
chance the Fed will leave rates unchanged and a 56.8 percent chance
of a 25 basis point rate hike.
The yen appreciated to near a 6-week high of 130.53 against the
greenback and a 2-month high of 140.22 against the franc, from its
early lows of 132.65 and 143.17, respectively. The yen may find
resistance around 127.00 against the greenback and 137.00 against
the franc.
The yen firmed to near 2-month highs of 138.82 against the euro
and 95.02 against the loonie, off its early lows of 141.74 and
96.87, respectively. The currency is seen finding resistance around
135.5 against the euro and 92.00 against the loonie.
The yen climbed to a 3-month high of 87.12 against the aussie
and a 4-day high of 81.47 against the kiwi, up from its prior lows
of 89.23 and 83.27, respectively. Next immediate resistance for the
currency is seen around 85.00 against the aussie and 80.00 against
the kiwi.
The yen was up against the pound, at a 4-day high of 158.95. On
the upside, 157.00 is likely seen as its next resistance level.
CAD vs Yen (FX:CADJPY)
Graphique Historique de la Devise
De Mai 2023 à Juin 2023
CAD vs Yen (FX:CADJPY)
Graphique Historique de la Devise
De Juin 2022 à Juin 2023