EUR/USD 1.16959
0.531%
Gold 4613.23
2.344%
Oil 58.595
-0.039%
USD/JPY 157.726
-0.097%
GBP/USD 1.34820
0.567%
GBP/JPY 212.651
0.471%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On January 12, Shanghai Municipal Party Committee Deputy Secretary and Mayor Gong Zheng chaired an executive meeting of the municipal government. The meeting pointed out that this year marks the start of the 15th Five-Year Plan. Focusing on key indicators and priorities for Shanghais economic and social development, the city must work diligently and pragmatically to achieve both qualitative and quantitative improvements in the economy. Efforts should be made to strengthen the guiding role of key indicators and targets, promptly decomposing key indicators and tasks to districts and departments, maintaining confidence, and striving for further progress to ensure the achievement of first-quarter targets. The meeting also stressed the importance of strengthening the supporting role of major projects, fully leveraging the citys major project construction coordination and promotion mechanism, increasing comprehensive support in key areas such as project feasibility studies, project approval, and resource supply, promoting the early commencement and operation of formal projects, and promptly converting reserve projects into formal projects.Germanys unadjusted current account balance for November was €15.1 billion, compared to €14.8 billion in the previous month.German Finance Minister Klinger: We need to become more resilient economically.On January 12, Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, stopped in Sri Lanka on his way back from a visit to Africa and held a friendly meeting with Sri Lankan Foreign Minister Herat. Wang Yi stated that facing an increasingly complex and volatile world, China will firmly safeguard the legitimate rights and interests of developing countries, especially small and medium-sized countries, firmly uphold the purposes of the UN Charter and international law, and work with like-minded countries to resist the resurgence of the "law of the jungle," oppose all forms of power politics and bullying, and defend multilateralism and international justice. China appreciates Sri Lankas long-standing adherence to the one-China principle and is willing to continue supporting Sri Lanka in pursuing a development path suited to its national conditions. The two sides can also strengthen regional cooperation oriented towards South Asia and jointly build a more just and equitable global governance system.German Finance Minister Klinger: A floor for rare earth prices is an option we will discuss at the G7+ meeting.

USD/JPY Surpasses 131.80 As Concern Grows Prior To BoJ Governor Selections

Alina Haynes

Feb 09, 2023 15:08

 USD:JPY.png

 

During the Tokyo trading session, the USD/JPY pair jumped past the key resistance level of 131.80. The asset has demonstrated significant increases as investors become anxious in advance of the announcement of the list of candidates to replace Bank of Japan (BoJ) Governor Haruhiko Kuroda. The BoJ's Kuroda has maintained an ultra-loose monetary policy for an extended length of time, and the Japanese government wishes to arrange an exit from the expansionary policy with his successor.

 

The statement by Vice President Joe Biden that the United States will not experience a recession in 2023 and 2024 has bolstered risky assets. S&P500 futures are showing moderate gains in the Asian session following a decline on Wednesday, indicating a modest revival in investor risk appetite.

 

The US Dollar Index (DXY) is failing to hold above 103.00 despite Federal Reserve (Fed) chair Jerome Powell and his team's commitment to raising interest rates higher and maintaining them at elevated levels for a longer period of time.

 

As reported by CNBC, Fed Governor Christopher Waller stated that the central bank will maintain its present plan of action, which has resulted in eight interest rate increases since March 2022. Regarding the labor market, the Fed official finds it to be relatively solid and anticipates that it will promote future consumer spending.

 

On the Japanese Yen front, investors are focusing mostly on the list of candidates for the position of next BoJ Governor. Wednesday, Japanese Prime Minister Fumio Kishida stated, "In the process of selecting the next Bank of Japan (BoJ) Governor nominee, they are aware of the market's keen emphasis on the decision."

 

In the meantime, OCBC has issued the following statement: "This week, the focus will be on the list of BoJ nominees that is anticipated to be presented to parliament on 10 February, but rumors predict a delay until next week. The appointment of Amamiya would be most beneficial for the USD/uptrend, JPY's but Yamaguchi's appointment might weaken the Japanese Yen.


Suggestion