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  • Article / 8 hours ago

    Last chance for RBA chief Stevens to leave his mark

    Managing Director / Technical Research Limited
    New Zealand
    Last chance for RBA chief Stevens to leave his mark
    We saw the impact of three central bank announcements on forex markets last week. Now it's the turn of the Reserve Bank of Australia. RBA governor Glenn Stevens leaves his job soon. He must now decide whether Australia is in danger of descending into disinflation unless he and his board do something about it.
    Read the article
  • 2d
    Michael O'Neill Michael O'Neill
    Thanks, Gents Have a great week end. It is now officially time for a cold beer and some good pub food
    2d
    fxtime fxtime
    LOL....I am a wino (as can't drink beer/lager unfortunately) so come 6pm BST (30 mins away) I will select a decent bottle of red. Have a...
    2d
    goldfinger goldfinger
    me too. but do take a decent pint of micro bitter.
  • Article / Friday at 14:30 GMT

    FX 4 Next Week: Yen flight hitting turbulence at the heights

    Head of FX Strategy / Saxo Bank
    Denmark
    FX 4 Next Week: Yen flight hitting turbulence at the heights
    This week saw one of the largest Japanese yen moves in market history, a move that we respect and suspect could extend at least marginally next week. Elsewhere, we look at commodity currency plays via AUD and NOK and suggest that a close above 1.1400 in EURUSD could lead to further gains versus a frozen Fed and captive USD.
    Read the article
  • Editor’s Picks / Friday at 11:26 GMT

    Bank of Japan discovers it can't win

    Bloomberg
    The Bank of Japan's inaction on Thursday drove the yen higher, making exports less competitive, and pushed share prices lower, making the prospects for a recovery of Japanese growth even dimmer, said Bloomberg View columnist Mohamed El-Erian . "Pity the Bank of Japan," El-Erian said. "The Bank of Japan has come closest to the line that separates effective policy measures from ineffective, if not counterproductive ones." The BoJ's attempts at unconventional monetary policy earlier this year produced counterintuitive results, including an appreciation of the yen. So it was understandable that the BoJ held off further policy activism this week, but it finds itself in a Catch-22 of contributing to anti-growth asset-price movements seemingly regardless of what it does or doesn’t do, El-Erian said. "Such a policy outcome is rare in advanced economies, where policy credibility and institutional robustness are taken as givens," he said. Other central banks should monitor the BoJ's predicament.
    Read article on Bloomberg
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  • 3d
    Martin O'Rourke Martin O'Rourke
    USDJPY went through 107.00 to hit a low of 106.91 in the last 15 minutes. It was trading at 107.13 at 0801 GMT.
    3d
    Juhani Huopainen Juhani Huopainen
    USDJPY and EURJPY are now getting close to support levels, so a short-term bottom is probably close. Longer-term, still more downside ahead, https://www.tradingfloor.com/posts/the-yen-run-ending-in-tears-is-a-prophecy-come-true-7533545
    2d
    Patto Patto
    Thanks Martin. These morning summaries are well presented and very useful..........