EUR/USD 1.16418
-0.189%
Gold 3398.61
0.080%
Oil 62.928
-0.419%
USD/JPY 147.748
0.411%
GBP/USD 1.34496
0.051%
GBP/JPY 198.720
0.471%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On August 9th, Bruneis Muara Port Company Limited announced that the expansion project of the Muara Port container terminal is progressing steadily and is expected to be completed on schedule by the end of 2027. According to the company, the project plans to add new shoreline and container berths within the port, and will renovate and upgrade the existing container terminal and multi-purpose wharf in the future. This will significantly increase the ports container handling capacity and better serve Bruneis economic and trade development and the joint construction of the "Belt and Road" cooperation.On August 9th, the Baotou Municipal Joint Investigation Team issued a report stating that in response to recent public concern regarding the talent recruitment of the Baotou Lecturer Corps, the city established a joint investigation team composed of the Municipal Commission for Discipline Inspection and Supervision, the Municipal Party Committee Organization Department, and other departments to conduct a comprehensive investigation. The teams conclusions and handling results are now reported as follows: The investigation revealed issues such as the use of personal connections, inadequate supervision, and irregular decision-making procedures in the recruitment of talent for the Lecturer Corps. Based on the results of the investigation, the results of the 2025 Lecturer Corps recruitment exam were deemed invalid. The principal person in charge of the Lecturer Corps was dismissed from his post in accordance with relevant regulations and disciplines, and was given a serious warning within the Party and a demotion. Furthermore, the person in charge of the talent recruitment was given a warning and admonishment.British police have arrested more than 50 people who took part in protests organised by Palestine Action, a group that was banned by British lawmakers in July under counter-terrorism legislation.Ukrainian President Zelenskyy: I spoke with French President Macron. We exchanged views on the diplomatic situation. Ukraine, France, and all our partners are ready to work as productively as possible for a genuine peace. Its important that the Russians stop deceiving anyone. We all need to truly end the war and establish a reliable security foundation for Ukraine and other European countries.Ukrainian President Zelenskyy: We also discussed with the Danish Prime Minister the work being done towards EU accession, as well as the progress being made by Ukraine and Moldova on this path.

USD/JPY Reverses Two-Day Advance Despite Positive Rates and Bullish Fed Statements

Alina Haynes

Feb 15, 2023 14:36

 USD:JPY.png

 

Following a two-day winning run, USD/JPY returns to the bears' radar early on Wednesday as market players evaluate the Fed's hawkish decision in relation to their expectations for the Bank of Japan's (BoJ) next move. As a result, the Yen pair re-establishes its intraday low near 132.70 and has posted its first daily loss in three days, down 0.20% as of press time.

 

The Japanese government's choice of a hawkish leader for the Bank of Japan (BoJ) board appears to have pressured USD/JPY negative in recent days, despite the rise in US Treasury bond yields and the US Dollar's rebound following US inflation data.

 

The Japanese government nominated Kazuo Ueda as Governor of the Bank of Japan on Tuesday. Notably, Bloomberg published an article saying that the Bank of Japan's easy-money policy could be challenged as a result of Ueda's hawkish predisposition.

 

Even if inflation did not exceed "positive surprise" expectations, the majority of Federal Reserve (Fed) policymakers outside of the United States supported additional rate hikes. The yields on US Treasury bonds and the US Dollar were driven by the same factor.

 

The US Consumer Price Index (CPI) increased by 6.4% year-over-year, exceeding market estimates, but registering the slowest increase since 2021 and falling below 6.5% previously. Importantly, the CPI excluding food and energy, often known as the Core CPI, rose by 5.6% compared to market forecasts of 5.5% and prior readings of 5.5%.

 

Following the release of the numbers, the president of the Dallas Fed, Lorie Logan, indicated that they must be prepared to continue rate hikes for a longer period than previously planned. John Williams, president of the New York Federal Reserve Bank, reiterated this attitude, noting that the task of containing high inflation is not yet accomplished. In addition, Patrick Harker, president of the Federal Reserve Bank of Philadelphia, intimated that they are not quite finished (with raising rates), but that they are close.

 

US 10-year Treasury bond rates fluctuate around 3.75% after increasing three basis points (bps) to reestablish a six-week high, while the two-year equivalent climbed to its highest level since early November 2022 by reaching 4.62%.

 

Despite this, S&P 500 Futures track Wall Street's bearish closing to highlight the somewhat pessimistic outlook and weigh on the USD/JPY exchange rate, mostly due to the Japanese Yen's (JPY) traditional attraction for risk aversion.

 

Lack of substantial Japanese data/events makes the USD/JPY pair susceptible to US stimuli for direction. The January Retail Sales and Industrial Production figures as well as the February New York Empire State Manufacturing Index should be examined closely.


Suggestion