EUR/USD 1.14277
-0.111%
Gold 3997.06
-0.455%
Oil 83.960
3.201%
USD/JPY 162.512
0.081%
GBP/USD 1.34447
-0.097%
GBP/JPY 218.497
-0.016%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
SpaceX (SPCX.O): Plans to conduct the 13th Starship flight test as early as July 23 local time.1. Kyiv suffers its "largest ballistic missile attack to date," leaving 1 dead and 17 injured. 2. Ukrainian military: Ukrainian forces hit two Russian oil tankers in the Black Sea. 3. Ukrainian Air Force: Shot down 18 of the 41 missiles launched by Russia overnight. 4. Zelensky: Kyiv forces attacked three oil depots and a fuel facility in Russias Stavropol region. 5. According to RIA Novosti: The Russian Ministry of Defense stated that Russian forces have taken control of Verny in eastern Ukraine. 6. According to Ukrainian authorities, on July 19, a civilian cargo ship carrying grain was attacked by Russian missiles in the Black Sea, resulting in 5 deaths and 5 missing persons.U.S. 10-year Treasury futures fell 6 points, and U.S. 30-year Treasury futures fell 10 points.July 20th - According to South Korean media reports, SK Group Chairman Chey Tae-won stated that SK Hynix is currently searching for a location in the United States to build a chip factory, aiming to increase supply capacity and curb prices, given that demand for memory chips far exceeds supply. As a major player in the industry, he believes the current price level is excessively high and an "abnormal" phenomenon. Chey Tae-won stated, "I believe we need to build (a chip factory) not only in Gwangju and Jeolla Province, but also in the United States." "If conditions permit, I think it should be built. This involves trade pressures and other factors that need to be weighed, so we are considering this."On July 20, the U.S. Central Command announced on social media that a U.S. military personnel died on July 18 while on a mission related to Iran in northern Iraq. Additionally, the U.S. military is searching in Jordan for a U.S. personnel who went missing after the Iranian attack on July 17; unidentified remains have been found, and identification and verification are underway.

As BoJ Udea Mentions the Appropriateness of Current Monetary Policy, EUR/JPY Exhibits a V-Shaped Movement

Daniel Rogers

Feb 24, 2023 14:30

 EUR:JPY.png

 

When Kazuo Ueda, the nominee for Governor of the Bank of Japan (BoJ), addresses the Japanese parliament, the EUR/JPY currency pair exhibits a V-shaped movement. The commentary of Haruhiko Kuroda's successor as Governor of the Bank of Japan has increased the volatility of the Japanese Yen.

 

As he describes the current monetary policy as appropriate and necessary to sustain 2% inflation, BoJ Ueda's speech appears more diplomatic. Moreover, he stated that rising import prices are the cause of Japan's rising inflation. Domestic demand is still insufficient, but the central bank is attempting to achieve pre-pandemic growth rates. The neighborhood has descended into lunacy as a result of his speech's absence of Yield conversion control (YCC) discussions.

 

Despite current discussions about the expansion of the YCC, the economic outlook for the Japanese Yen is positive, as the Bank of Japan is working to increase labor costs, which will confidently support a revival in overall demand.

 

Nordea economists continue to be optimistic about the Japanese Yen: "We remain fairly sanguine on JPY due to our expectations of a change in Bank of Japan monetary policy later this year." According to a note from Nordea, the time is ripe for a normalization of the Bank of Japan's stimulative monetary policy, "with inflation reaching its highest level in decades and a prognosis for higher wage growth."

 

Despite the easing of inflationary pressures, investors are concerned that the normalization of the Eurozone economy will take a significant amount of time. In order to maintain a ceiling on the price index, the European Central Bank (ECB) is anticipated to continue raising interest rates.


Suggestion