Intra-Day Market Moving News and Views
12 Sep 2014 06:0GMT
USD/JPY - ..... Although the greenback strengthened in Tokyo morning n rose to a fresh 6-year peak at 107.40, price retreated ahead of European open n dropped to 107.20 as Nikkei trimmed early gains n unofficially closed up 39 points to 15948, off fm its intra-day high at 15984.
Offers from profit-taking are noted at 107.35/40 n around 107.50 with selling interest fm various accounts at 107.70/80 n ahead of 108.00.
On the downside, bids are placed at 107.15/10 n then 107.00-106.90 with mixture of bids n stops at 106.60/70.
BoJ Governor Haruhiko Kuroda in a TV programme said BoJ has tools available if it were to ease monetary policy further, but stressed that he saw no need to act now given steady progress toward meeting its price target. He added "I don't think there are limits to what additional steps we can take."
When asked whether the BOJ had deployed all available options when it launched its massive stimulus programme in Apr last year, he said "if necessary, we have room to take appropriate measures. But for now, we're making steady progress in meeting our price target. I don't think now is the time to specifically discuss adjusting monetary policy," he said, dismissing the idea of easing policy further near-term to ease the pain from a sales tax hike in Apr.
Earlier, Japan EconMin Amari said 'cannot comment on whether or not yen level is appropriate; BoJ kuroda's comments during meeting with Abe on additional easing were not different from his regular comments.
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