Intra-Day Market Moving News and Views (USD/JPY)
22 Mar 2016 02:38GMT
USD/JPY - ...... The pair trades with a firm undertone in Asian morning as o/n broad-based rebound in the USD and intra-day gain in the Nikkie (currently up by 347 points at 17072) has boosted risk sentiment.
Dlr climbed to 111.97 near New York close on Monday and price quickly rose above 112.00 in Australia after hitting stops above there and climbed to 112.22 at Tokyo open before a brief retreat to 111.84, however, buyers emerged and lifted the pair.
Bids are noted at 111.90-80 with stops below 111.50, some offers are tipped at 112.20/30 with stops above there.
Japan FinMin Aso told reporters after a cabinet meeting on Tuesday that the Japanese economy's fundamentals were firm and there was no need to adopt fresh fiscal spending to stimulate the economy, and they we need to continue to coordinate with the international community.
Aso made the remark when asked about growing calls in some quarters for Japan to take a leadership role as G7 chair in coordinating fiscal steps to boost domestic demand.
While their EconMin Ishihara speaking to reporters today that the effects of the Bank of Japan's surprise negative interest rate policy on Japan's real economy are not yet clear. They would need to monitor for about 3 months to see the effects of negative rate policy and to gauge the impact.
The BOJ unexpectedly cut a benchmark interest rate below zero in January, stunning investors with another bold move to stimulate the economy.
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