Yen stages solid comeback in Asia, German CPI, US GDP eyed
By FXStreet FXStreet (Mumbai) – As dust settles over the more hawkish-than expected FOMC and a dovish RBNZ stance, attention now turns to the much-awaited BOJ decision due on Friday. While the yen regains lost ground versus the US dollar following the post-FOMC slump, the Aussie extends losses on poor economic data and the NZD maintains the offered tone, accentuated by RBNZ’s indications of further easing likely.
Key headlines in Asia
Chinese Premier: Annual 6.53% growth until 2020 needed
BOJ: Why further QQE tomorrow should not be ruled out?
Fed Fund futures: Odds of a Fed rate hike in Dec at 43%
Dominating themes in Asia – centered on JPY, AUD, NZD
Calm sets in the Asian session as markets continue to digest the latest monetary policy decisions by the Fed and the RBNZ, which completely diverge. And now with RBNZ also joining the easing central bankers’ league, BOJ looks very close to rolling additional stimulus on Friday. However, the yen was unperturbed by such market views and staged a solid rebound versus the US dollar after reaching as low as 121.28 post-FOMC statement. USD/JPY gave back more than half its previous rally and dived in the red as the Japanese currency regained …read more
Source:: FX Street
