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On September 6, the Iranian Foreign Ministry issued a statement condemning the United States for its attacks on Iranian oil tankers in the Persian Gulf and the Gulf of Oman. The Iranian Foreign Ministry stated that such attacks are part of the ongoing US military action against Iran, including a maritime blockade and economic warfare, which clearly violate Article 2, Paragraph 4 of the UN Charter and pose a clear threat to international peace and the security of commercial shipping. The statement declared Irans determination to defend its sovereignty and national interests and resist US "state terrorism" and acts of aggression, including attacks on commercial shipping. The Iranian Foreign Ministry warned that the consequences of the USs continued aggressive and interventionist actions in the region should be borne by the US and its allies.September 6 (Xinhua) -- Russian President Vladimir Putin said that Kyiv has called for an expanded ceasefire, but Russia has not yet consulted with Ukraine on the matter. "The Ukrainian authorities have called for a broader three-day ceasefire, but we have never reached an agreement with them on this," Putin said during a meeting with U.S. special envoy Witkov and Trumps son-in-law Jared Kushner.On September 6, Ukrainian President Volodymyr Zelenskyy posted on social media that he had spoken with a U.S. representative that day and decided that Ukraine would cease its attacks on Moscow from that moment until September 7, and hoped that Russia would also cease its attacks on Kyiv during the same period.On September 6th, police in Saxony, Germany, announced on September 5th that 12 explosive devices had been discovered near two high-voltage power lines in the state. All devices have been defused, and no injuries or power outages were reported. Police initially believe the devices may have been used to cause short circuits in the high-voltage power lines. Police are currently investigating whether this discovery is related to several recent incidents of damage to power facilities in the country.On September 6, the Central Command of the Iranian Armed Forces, led by Hatem Anbia, issued a warning that if the United States continues its unsafe behavior, harasses Iranian vessels, and continues its blockade of Iran, the Iranian Armed Forces will launch a more severe attack on US warships in the region, and may expand the scope of the attack.

USD/JPY Bulls compete for easy pickings while bears lurk nearby

Daniel Rogers

Sep 29, 2022 14:27

截屏2022-09-29 上午10.25.29.png 

 

Because US yields fell overnight in response to the Bank of England's unexpected move to purchase bonds, the USD/JPY fell to 143.90 in late New York trading. As a result, bulls gave up in the last trading days of the month, sending global bond yields lower, stock prices higher, and the US currency plunging. Following a rise from the 144.04 level, the USD/JPY is currently targeting that level again.

 

In its first daily decline since September 19th, the US dollar index (DXY) is up 0.36 percent on the day but has reversed from a 20-year high. The yield on the 10-year gilt dropped over 50 basis points to 4.00% while the yield on the 10-year treasury plummeted 21.4 basis points to 3.733% overnight after the BoE's announcements. In reaction, European stocks increased in value, pushing the S&P 500 up by 2.0%.

 

Beginning September 28th, the central bank has announced that it will initiate short-term purchases of long-term UK government bonds in an effort to restore market equilibrium. BoE said in a statement, "The purchases will be made in whatever quantity is necessary to achieve this aim." After the Old Lady got involved, the yield on the 30-year benchmark gilt dropped by more than 50 basis points, and this was despite the BoE putting most of its attention on the July 2051 bond and buying only GBP1 billion.

 

In the wake of a severe drop, the USD/JPY exchange rate could be heading for a further correction of the rapid increase from 140.35 a week ago. However, USD/JPY has upward potential so long as the policy gap between the Federal Reserve and the Bank of Japan exists.

 

"The Japanese Ministry of Finance, however, will be aware of the currency's current vulnerability and will likely aim to generate sufficient fear of further intervention to discourage speculators. On the other hand, our goal for the next three months remains USD/JPY147.00 "According to Rabobank research.


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