Yen Falls After Fed Statement
2020年7月30日 - 12:23PM
RTTF2
The Japanese yen slipped against its major opponents in the
Asian session on Thursday, as the U.S. Federal Reserve reiterated
that the central bank would provide support if required to help
stabilize the economy.
The Federal Reserve left its policy measures unchanged and
reiterated its commitment to do whatever is needed to support the
economy.
The central bank affirmed that the policy rate will stay at the
current level "until it is confident that the economy has weathered
recent events and is on track to achieve our maximum-employment and
price-stability goals".
The Fed's dovish message boosted risk appetite, weighing on the
yen.
The U.S. on Wednesday passed the grim record of 1,50,000
coronavirus fatalities while the total number of cases neared 4.4
million.
President Donald Trump said on Wednesday that his administration
and Democrats in Congress were still "far apart" on a new
coronavirus relief bill.
The yen fell to 2-day lows of 105.29 against the greenback and
123.86 against the euro, from its early highs of 104.87 and 123.60,
respectively. Next immediate support for the yen is seen around 108
against the greenback and 127.00 against the euro.
The yen dropped to a 3-day low of 115.26 against the franc,
2-day low of 78.82 against the loonie and a 1-week low of 136.50
against the pound, off its early highs of 114.84, 78.61 and 136.19,
respectively. The currency is likely to face support around 118.00
against the franc, 81.00 against the loonie and 138.00 against the
pound.
In contrast, the yen rose to a 2-day high of 75.02 against the
aussie, while approaching 69.64 against the kiwi, which was its
strongest since July 2. If the yen rises further, it may find
resistance around 74 against the aussie and 67 against the
kiwi.
Looking ahead, Swiss KOF leading indicator, German jobless rate
and Eurozone economic confidence index, all for July, will be
published in the European session.
At 8:00 am ET, German flash consumer inflation for July is
due.
U.S. GDP data for the second quarter and weekly jobless claims
for the week ended July 25 will be featured in the New York
session.
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