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Forex news -forex broker review => Forex => Topic started by: forex4you on Sep 16, 2022, 03:11 pm

Title: ForexLive Asia-Pacific FX news wrap: USD/JPY bounces back from under 142.90
Post by: forex4you on Sep 16, 2022, 03:11 pm
ForexLive Asia-Pacific FX news wrap: USD/JPY bounces back from under 142.90

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The
yen was once again a focus. USD/JPY fell early in the session,
dropping under 143.00 and chopping in a tight range under the figure.
We had remarks from Japanese
finance minister Suzuki, the
usual attempts at talking the yen up. But the yen once again fell in
response to such comments, USD/JPY climbing back to touch 143.50.
</p><p class="western">Elsewhere
it was a mixed bag for FX against the dollar. EUR, AUD, NZD & GBP
all traded on the bid side against the big dollar but the moves have
been largely traced to leave us with very little net change on the
session.
</p><p class="western">The
offshore yuan, CNH, consolidated. USD/CNH spent much of the session
trading north of 7.02. The People's Bank of China set the reference
rate for onshore yuan at its weakest (i.e. USD/CNY at its highest)
since August 18 of 2020. Data from China today showed better than
expected for August retail sales, industrial production, and the
unemployment rate.
</p><p class="western">Reserve
Bank of Australia Governor Lowe appeared in committee at the
Australian parliament. His comments gave some indications of a 50bp
rate hike coming up at the October 4 RBA policy meeting, but there
were also indications it could be just 25bp. A bit wishy-washy.
National Australia Bank revised their forecast for the October
meeting to +50 from its prior call of +25.
</p><p class="western">Speaking
of central bank forecasts, ANZ in New Zealand have changed their RBNZ
forecast to an OCR peak at 4.75% (previously 4%), with 25bp hikes
added to their profile in February, April, and May next year.</p>

                This article was written by Eamonn Sheridan at forexlive.com.

Source: ForexLive Asia-Pacific FX news wrap: USD/JPY bounces back from under 142.90 (https://forexlive.com/news/forexlive-asia-pacific-fx-news-wrap-usdjpy-bounces-back-from-under-14290-20220916/https://forexlive.com/news/forexlive-asia-pacific-fx-news-wrap-usdjpy-bounces-back-from-under-14290-20220916/)

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