Asian Session – US dollar, euro lose ground against yen ahead of BOJ meeting on Thursday
November 18, 2013 7:39 am
The dollar slipped versus the yen but managed to keep above 100 yen level at 100.01. The dollar lost 0.25%.
The Bank of Japan will meet on Wednesday and Thursday, with Governor Kuroda giving a press conference late in the Asian session on Thursday. No change is expected in the nation’s extra-loose monetary policy.
The main theme surrounding trading in the dollar was the possibility of a later-than-expected reduction of Fed monetary stimulus following the testimony of Fed President nominee Janet Yellen before the US Senate.
US dollar traders looked ahead to retail sales figures to be released in Wednesday.
The euro was little changed against the dollar at 1.3491
In economic news, Chinese house prices scaled new record highs in October, posing a policy headache for the country’s rulers. The annual price growth nationwide was 9.6%, although in cities like Beijing and Shanghai, house prices were up in double-digits.
Most Asian equity indices were strongly higher on hopes that the decisions of the once-a-decade Chinese policy meeting that ended the previous week will result in positive changes that will help the Chinese economy to overcome its challenges.
The Australian dollar strengthened versus the dollar, gaining 0.34% to trade at 0.9403. The Reserve Bank of Australia’s minutes from the 5th November meeting are expected on Tuesday, although the bank is generally expected to keep interest rates at 2.50% for the foreseeable future.
The dollar slipped versus the yen but managed to keep above 100 yen level at 100.01. The dollar lost 0.25%.
The Bank of Japan will meet on Wednesday and Thursday, with Governor Kuroda giving a press conference late in the Asian session on Thursday. No change is expected in the nation’s extra-loose monetary policy.
The main theme surrounding trading in the dollar was the possibility of a later-than-expected reduction of Fed monetary stimulus following the testimony of Fed President nominee Janet Yellen before the US Senate.
US dollar traders looked ahead to retail sales figures to be released in Wednesday.
The euro was little changed against the dollar at 1.3491
In economic news, Chinese house prices scaled new record highs in October, posing a policy headache for the country’s rulers. The annual price growth nationwide was 9.6%, although in cities like Beijing and Shanghai, house prices were up in double-digits.
Most Asian equity indices were strongly higher on hopes that the decisions of the once-a-decade Chinese policy meeting that ended the previous week will result in positive changes that will help the Chinese economy to overcome its challenges.
The Australian dollar strengthened versus the dollar, gaining 0.34% to trade at 0.9403. The Reserve Bank of Australia’s minutes from the 5th November meeting are expected on Tuesday, although the bank is generally expected to keep interest rates at 2.50% for the foreseeable future.
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