Yen Declines As Intervention Risk Rises; BoJ Meeting In Focus
2024年4月25日 - 1:23PM
RTTF2
The Japanese yen weakened against other major currencies in the
Asian session on Thursday, as market speculate the Japanese
authorities is likely to intervene the foreign exchange market to
prop up the yen ahead of the BOJ policy meeting.
The Bank of Japan (BOJ) will start its two-day rate-setting
meeting later in the day. The central bank is expected to leave its
benchmark interest rate unchanged.
Traders also await the U.S. Fed meeting on April 30 to May 1,
with the central bank widely expected to keep rates unchanged.
In economic news, data from the Cabinet Office showed that the
Japan's leading index improved to the highest level in
one-and-a-half years as initially estimated in February. The
leading index, which measures future economic activity, rose to
111.8 in February from 109.5 in the previous month. That was in
line with the flash data published on April 5.
Meanwhile, the coincident index, measures the current economic
situation, dropped to 111.6 from 112.3 a month ago. In the initial
estimate, the score was 110.9.
The safe-haven yen traded lower against its major rivals on
Wednesday. In the Asian trading today, the yen declined to a
34-year low of 155.75 against the U.S. dollar, a 16-year low of
166.80 against the euro and a 9-year low of 194.25 against the
pound, from yesterday's closing quotes of 155.34, 166.17 and
193.57, respectively. If the yen extends its downtrend, it is
likely to find support around 157.00 against the greenback, 168.00
against the euro and 196.00 against the pound.
The yen dropped to a 6-day low of 170.39 against the Swiss
franc, from yesterday's closing value of 169.71. On the downside,
172.00 is seen as the next support level for the yen.
Against Australia, the New Zealand and the Canadian dollars, the
yen slipped to nearly a 10-year low of 101.41, nearly a 2-month low
of 92.56 and a 17-year low of 113.78 from Wednesday's closing
quotes of 100.92, 92.19 and 113.33, respectively. The yen is likely
to find support around 102.00 against the aussie, 93.00 against the
kiwi and 114.00 against the loonie.
Looking ahead, U.K. Confederation of British Industry is set to
release Distributive Trades survey results for April at 6:00 am ET
in the European session.
In the New York session, U.S. weekly jobless claims, core PCE
prices and GDPP data for the first quarter, wholesale inventories
for March, pending home sales for March and U.S. Fed Bank of Kansas
manufacturing index for March are slated for release.
AUD vs Yen (FX:AUDJPY)
FXチャート
から 4 2024 まで 5 2024
AUD vs Yen (FX:AUDJPY)
FXチャート
から 5 2023 まで 5 2024
