Yen Falls Amid BoJ Rate-hike Uncertainty
11 Novembre 2024 - 4:51AM
RTTF2
The Japanese yen weakened against other major currencies in the
Asian session on Monday, after the Bank of Japan (BoJ) Summary of
Opinions from the October meeting revealed that policymakers were
split on whether to raise interest rates. Also, the political
uncertainty in Japan, raised doubts over the BoJ's ability to
tighten its monetary policy further.
The Summary of Opinions showed that as the BoJ moves toward
additional interest rate rises, members talked about the possible
effects of changes in the US economy and policy.
The minutes of the Bank of Japan's October policy meeting showed
officials were divided on how soon they could raise rates
again.
Japan's parliament will vote on Prime Minister Ishiba's
leadership. The ruling Liberal Democratic Party (LDP), which has
controlled the lower house since 2012, may now seek to build a
government with the help of smaller parties.
The possibility of a weak minority administration in Japan casts
doubt on the BoJ's ability to raise interest rates further,
undermining the safe-haven currency.
In economic news, survey data from the Cabinet Office showed
that the A measure of the public assessment of the current
situation of the Japanese economy weakened further in October, and
future conditions remained pessimistic. The current conditions
index of the Economy Watchers' Survey, which measures the present
situation of the economy, dropped to 47.5 in October from 47.8 in
September. Economists had forecast the index to fall to 47.2.
The outlook index that signals future activity decreased to 48.3
from 49.7 in the previous month.
In the Asian trading today, the yen fell to a 4-day low of
153.68 against the U.S. dollar, from Friday's closing value of
152.63. The next downside target level for the yen is seen around
the 155.00 region.
Against the euro, the pound and the Swiss franc, the yen dropped
to 164.66, 198.43 and 175.19 from last week's closing quotes of
163.59, 197.21 and 174.26, respectively. If the yen extends its
downtrend, it is likely to find support around 167.00 against the
euro, 200.00 against the pound and 178.00 against the franc,
Against Australia, the New Zealand and the Canadian dollars, the
yen slipped to 101.36, 91.84 and 110.39 from Friday's closing
quotes of 100.43, 91.07 and 109.73, respectively. On the downside,
103.00 against the aussie, 93.00 against the kiwi and 112.00
against the loonie are seen as the next support levels for the
yen.
CHF vs Yen (FX:CHFJPY)
Graphique Historique de la Devise
De Nov 2024 à Déc 2024
CHF vs Yen (FX:CHFJPY)
Graphique Historique de la Devise
De Déc 2023 à Déc 2024