Placeholder canvas
HomeFinance NewsAsia-Pacific FX news wrap: USD/JPY rises on dovish BOJ official comments

Asia-Pacific FX news wrap: USD/JPY rises on dovish BOJ official comments

Published on

The USD/JPY saw a rise today following a speech by Bank of Japan Deputy Governor Shinichi Uchida, in which he emphasized the importance of maintaining easy monetary policy and indicated that the BOJ is unlikely to aggressively raise interest rates, even after ending its negative interest rate policy. China’s inflation data for January was also a focus, with the CPI falling year-on-year at the fastest pace since the global financial crisis, signaling deflation. However, certain data, like core inflation and the month-on-month headline, saw gains despite this. This has raised concerns about real rates in China, especially with the Loan Prime Rates remaining relatively high.

Chinese stocks continued to rebound as the Lunar New Year holiday approached, with markets in China closed on Friday, February 19 and set to reopen the following Monday. Additionally, Hong Kong and Singapore markets will also have brief closures as part of the holiday celebrations. The CSI 300 Index, which tracks the performance of the top 300 stocks listed on the Shanghai Stock Exchange and the Shenzhen Stock Exchange, is considered a benchmark for China’s A-share market. It includes the largest and most liquid A-share stocks across various sectors, making it a widely used benchmark for fund managers and investors in China’s stock market. However, the latest inflation data and potential impact on real rates have raised concerns about the market’s future performance.

Source link

Latest articles

Crafting a high-earning retirement portfolio: A guide for maximizing income

Attractive bond yields have been a beacon for investors seeking income, especially retirees. However,...

United Airlines increases checked bag fee by $5 in response to American Airlines.

United Airlines announced that they will be raising the price for checked bags, joining...

Valuable Zelda Game Could Fetch Over $700k in Auction

In a world where physical video games are becoming increasingly harder to find due...

Limited options for IVF patients as Alabama halts embryo transfers.

Some fertility clinics and shipping services are facing uncertainty following an Alabama court ruling...

More like this

Crafting a high-earning retirement portfolio: A guide for maximizing income

Attractive bond yields have been a beacon for investors seeking income, especially retirees. However,...

United Airlines increases checked bag fee by $5 in response to American Airlines.

United Airlines announced that they will be raising the price for checked bags, joining...

Valuable Zelda Game Could Fetch Over $700k in Auction

In a world where physical video games are becoming increasingly harder to find due...