Intra-Day Market Moving News and Views
03 Feb 2016 01:20GMT
USD/JPY - ..... The greenback met renewed selling at 120.86 in Europe yesterday and tumbled to 119.84 near New York closing on risk-averse buying of yen due to the drop in oil prices n selloff in U.S. stocks.
Dlr has continued to remain under pressure and dropped further to 119.49 in Tokyo morning due to the selloff in Nikkei-225 index (currently down).
Just earlier BOJ released its minutes, Reuters reported Bank of Japan policymakers debated the feasibility of adopting supplementary steps for their massive stimulus programme, though they agreed that the broad price trend was improving steadily, minutes of their December rate review showed on Wednesday.
"The members agreed that there was no need to adjust monetary policy now as underlying trend inflation was improving steadily," according to the minutes of the Dec. 17-18 meeting.
A few of them said that fine-tuning the BOJ's "quantitative and qualitative easing" (QQE) would allow the central bank to swiftly ease if needed, the minutes showed.
At the December meeting, the BOJ adopted several steps to fine-tune QQE such as extending the average duration of government bonds it purchases. At a subsequent meeting in January, the BOJ stunned markets by deploying negative interest rates while maintaining QQE.
03 Feb 2016 01:20GMT
USD/JPY - ..... The greenback met renewed selling at 120.86 in Europe yesterday and tumbled to 119.84 near New York closing on risk-averse buying of yen due to the drop in oil prices n selloff in U.S. stocks.
Dlr has continued to remain under pressure and dropped further to 119.49 in Tokyo morning due to the selloff in Nikkei-225 index (currently down).
Just earlier BOJ released its minutes, Reuters reported Bank of Japan policymakers debated the feasibility of adopting supplementary steps for their massive stimulus programme, though they agreed that the broad price trend was improving steadily, minutes of their December rate review showed on Wednesday.
"The members agreed that there was no need to adjust monetary policy now as underlying trend inflation was improving steadily," according to the minutes of the Dec. 17-18 meeting.
A few of them said that fine-tuning the BOJ's "quantitative and qualitative easing" (QQE) would allow the central bank to swiftly ease if needed, the minutes showed.
At the December meeting, the BOJ adopted several steps to fine-tune QQE such as extending the average duration of government bonds it purchases. At a subsequent meeting in January, the BOJ stunned markets by deploying negative interest rates while maintaining QQE.
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