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18.09.26 - 17:00
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Yen Plunges After Two Dissenters Upstage BOJ′s Rate Hike: Full Wall Street Reaction (ZeroHedge)
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Yen Plunges After Two Dissenters Upstage BOJ's Rate Hike: Full Wall Street Reaction
The yen sank to a two-week low against the dollar on Friday after two policy makers at the Bank of Japan dissented from a widely expected decision to raise interest rates, extinguishing expectations for back-to-back hikes. Governor Kazuo Ueda now needs, at a minimum, to preserve expectations for a December move to prevent markets from unwinding most if note all of the tightening path already priced into rates.
While Japanese policymakers pushed rates to their highest level in 31 years at 1.25%, the move failed to boost the currency as traders felt there was a lack of explicitly hawkish guidance.
As a result of the dovish split, the yen tumbled and the US dollar rose more than 1.2% against the Japanese currency, hitting a a two-week high of 158.07 yen after wavering during BOJ Governor Kazuo Ueda's press conference. It was set for its biggest daily increase versus the yen since December and the l...
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18.09.26 - 16:54
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StanChart′s Englander Betting Against Yen ′Short-Term′ (Bloomberg)
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Steven Englander, global head of G10 FX research at Standard Chartered Bank, citing the strength of the US dollar and uncertainty about future rate-hiking commitments from the Bank of Japan, says that he wants to bet against the yen “short-term.” (Source: Bloomberg)...
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18.09.26 - 15:01
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BOJ Hikes Rate at Fastest Pace in More Than Three Decades (Bloomberg)
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The Bank of Japan raised its benchmark interest rate to 1.25% on Friday as it grapples with rising inflation and pressure from Washington. The move marks Japan's fastest pace of rate hikes in more than three decades. Aya Wagatsuma explains. (Source: Bloomberg)...
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