ForexLive Asia-Pacific FX news wrap: USD/JPY rises to 151.30 | Forexlive
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FOMC previews:
Other items today:
The
reverberations of the Bank of Japan meeting on Tuesday continued for
the yen today here in Asia. Yen crosses rose further with USD/JPY
heading up to 151.30 while EUR/JPY rose to just shy of 164.50, to its
highest since 2008. It seems only a matter of time before the verbal
(at least) intervention begins again to prop up JPY. Japanese markets
were closed today for a public holiday.
Small
ranges prevailed across much of major FX. Traders are awaiting the
Federal Open Market Committee (FOMC) statement and the press
conference from Federal Reserve Chair Powell. There are previews in
the points above.
The
People’s Bank of China set Loan Prime Rates today, both the 1-year
and the 5-year remained unchanged, as expected, at 3.45% and 3.95%
respectively. Last month the 5-year LPR was cut by 25bps, its largest
cut ever.
Chinese
Foreign Minister Wang Yi met with Australia’s Foreign Affairs
Minister Penny Wong in Australia today, a sign of the continuing,
slow, warming of relations between the two countries.
USD/JPY daily candles – getting back to late 2023 highs:
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