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Asian Session – Yen adds to losses on speculation of deeper negative rates

Posted on September 14, 2016 at 5:35 am GMT

The yen was one of the worst performing major currencies during the Asian session on Wednesday after the currency weakened in reaction to a Nikkei newspaper report that the Bank of Japan may cut interest rates deeper into negative territory. The Japanese currency added to yesterday’s losses when it weakened 0.7% and it softened 0.6% in Asian trading today. The US dollar rose to a session high of 103.18 yen, marking a fresh one-week high. The diverging monetary policies of [..]

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European Session – pound falls on inflation miss, dollar recovers after dovish Fed speech

Posted on September 13, 2016 at 2:30 pm GMT

The pound dropped on softer-than-expected inflation numbers out of the UK, while the US dollar staged a recovery from a dovish speech from a Fed official the previous day.  The euro was not particularly moved by a weak ZEW German investor sentiment survey, while the Aussie failed to benefit from strong Chinese data released earlier during the Asian session. Today’s trading was dominated by the recovery in the US dollar, which was hurt the previous day following a dovish speech [..]

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Mixed messages by Fed ahead of next week’s meeting

Posted on September 13, 2016 at 1:23 pm GMT

Federal Reserve officials speaking in recent days have given mixed messages to the markets with regards to policy tightening.  It appears that US central bank policymakers will be going to next week’s meeting divided, with some concerned that delaying a rate hike could see a spike in inflation while others take a more cautious stance. The latest Fed speaker was Governor Lael Brainard who delivered a dovish speech at the Chicago Council on Global Affairs on Monday. She urged prudence [..]

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Asian Session – Gold rises as dovish Brainard suggests rate hike delay

Posted on September 13, 2016 at 5:51 am GMT

The US dollar slipped as the rate rise odds fell after a speech by Federal Reserve Governor Lael Brainard at the Chicago Council on Global Affairs on Monday. This was the last speech from a Fed speaker before the US central bank’s blackout period ahead of the FOMC policy decision next week. Brainard’s speech had a dovish tone as she urged prudence and saw less urgency in raising US interest rates. The dollar initially tumbled on Brainard’s comments and equities [..]

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Yen rallies on risk aversion; Fed’s Brainard speech expected for clues

Posted on September 12, 2016 at 2:31 pm GMT

The Japanese yen put in a strong performance on Monday as falling stock markets and rising bond yields caused investors to buy the safe-haven currency.  The yen gained around 1% against most majors since the start of Monday’s Asian trading.  Dollar / yen dropped below 102 to 101.92, euro / yen dropped to 114.34 and pound / yen fell back to 135.  The market’s turbulence was apparently linked to fears that central banks such as the European Central Bank and [..]

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Asian Session – Yen outperforms on safe haven buying; aussie hit hard by risk off mood

Posted on September 12, 2016 at 7:04 am GMT

The safe-haven yen benefited from risk aversion that was evident in all markets. There was a broad selloff in Asian equity markets which dampened invertors’ risk appetite and was the main driver behind the yen’s strength. The dollar started the new trading week on the back foot and opened in Asia with a gap lower against the Japanese currency at 102.54 yen. This led to the greenback trimming some gains made on Friday when it was driven higher by hawkish comments [..]

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European Session – Dollar edges higher against yen on Fed’s Rosengren’s hawkish comments

Posted on September 9, 2016 at 3:00 pm GMT

The US dollar was broadly stronger by the end of the European session, helping reverse the euro’s post-ECB gains. The ECB’s inaction on Thursday pushed the euro higher but the bounce did not have staying power and it soon reversed as the markets turned their focus on the December ECB meeting for further stimulus. The euro’s rise above the key $1.13 level yesterday turned lower soon after and the currency remained below this key level today, falling to as low [..]

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