Asian Session – Yen remains bearish on BOJ Governor’s comments
November 25, 2013 7:20 am
The yen weakened in the Asian session as bearish sentiment on the currency kept it under pressure. There were no economic data releases during today’s session except for Bank of Japan Governor Kuroda speaking again on the central bank’s monetary easing policy. Kuroda reiterated that the BOJ will maintain its aggressive asset-purchase program in coming months and years.
The euro found an opportunity to charge higher to a new four-year high against the yen, peaking at 137.97, and ended with a 0.5% gain at 137.92. Meanwhile the dollar rose to 101.90, its strongest level since May 26, and ended the session up 0.5% at 101.85.
The euro rose against the dollar early in the session to hit a high of 1.3559 before easing to end at 1.3539, with a slight 0.05% loss. The euro successfully recovered losses from last week’s drop to 1.3398, caused by rumours of negative interest rates from the European Central Bank.
Sterling maintained its strong bullish momentum and traded above the 1.62 handle. It touched a session high of 1.6239 against the dollar before slipping to 1.6217, down 0.03%.
The Australian dollar continued to be weighed by fears of intervention from the Reserve Bank of Australia, falling 0.3% to a new 2-1/2 month low of 0.9120. Last week RBA Governor Glenn Stevens commented on such possibility of intervention as he believes the currency’s value is too high.
The yen weakened in the Asian session as bearish sentiment on the currency kept it under pressure. There were no economic data releases during today’s session except for Bank of Japan Governor Kuroda speaking again on the central bank’s monetary easing policy. Kuroda reiterated that the BOJ will maintain its aggressive asset-purchase program in coming months and years.
The euro found an opportunity to charge higher to a new four-year high against the yen, peaking at 137.97, and ended with a 0.5% gain at 137.92. Meanwhile the dollar rose to 101.90, its strongest level since May 26, and ended the session up 0.5% at 101.85.
The euro rose against the dollar early in the session to hit a high of 1.3559 before easing to end at 1.3539, with a slight 0.05% loss. The euro successfully recovered losses from last week’s drop to 1.3398, caused by rumours of negative interest rates from the European Central Bank.
Sterling maintained its strong bullish momentum and traded above the 1.62 handle. It touched a session high of 1.6239 against the dollar before slipping to 1.6217, down 0.03%.
The Australian dollar continued to be weighed by fears of intervention from the Reserve Bank of Australia, falling 0.3% to a new 2-1/2 month low of 0.9120. Last week RBA Governor Glenn Stevens commented on such possibility of intervention as he believes the currency’s value is too high.
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