Japan’s Kiuchi: Hopes BoJ to work in line with government’s principals

Sagar Dua FXStreet

Japan's economy minister, Minoru Kiuchi, said during Friday’s European trading session that the government will not interfere in Bank of Japan’s (BoJ) decisions on monetary policy.

Additional remarks

Government will not comment on that

Hopes that BOJ will guide monetary policy appropriately to stably achieve 2% inflation target.

Hopes for BOJ to work closely in line with the government on principles stipulated in joint agreement.

Important for stock, FX, bond market to move stably reflecting fundamentals.

Government will watch market moves with high sense of urgency.

Market reaction

USD/JPY recovers its early losses during European trading hours, turns flat around 155.00. However, the recovery move appears to be driven by a decent rebound in the US Dollar.

Japanese Yen Price Today

The table below shows the percentage change of Japanese Yen (JPY) against listed major currencies today. Japanese Yen was the weakest against the Australian Dollar.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		-0.05%	-0.09%	0.02%	-0.09%	-0.34%	-0.19%	-0.10%
EUR	0.05%		-0.04%	0.05%	-0.04%	-0.29%	-0.14%	-0.05%
GBP	0.09%	0.04%		0.08%	0.00%	-0.26%	-0.10%	-0.01%
JPY	-0.02%	-0.05%	-0.08%		-0.08%	-0.34%	-0.21%	-0.10%
CAD	0.09%	0.04%	-0.00%	0.08%		-0.26%	-0.12%	-0.01%
AUD	0.34%	0.29%	0.26%	0.34%	0.26%		0.15%	0.25%
NZD	0.19%	0.14%	0.10%	0.21%	0.12%	-0.15%		0.09%
CHF	0.10%	0.05%	0.00%	0.10%	0.00%	-0.25%	-0.09%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Japanese Yen from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent JPY (base)/USD (quote).

Author

Sagar Dua

FXStreet

Sagar Dua is associated with the financial markets from his college days. Along with pursuing post-graduation in Commerce in 2014, he started his markets training with chart analysis.

AUD/USD: The 0.7000 region holds the downside, for now

AUD/USD has started the week in a negative fashion, giving away part of Friday’s uptick and refocusing on the downside. The pair’s daily decline has come on the back of the another firm performance of the Greenback, although it has met some decent contention near the 0.7000 neighbourhood.

USD/JPY struggles below 157.00 on weak USD; holds above one-month low ahead of Fed, BoJ meetings

USD/JPY attracts fresh sellers during the Asian session on Monday, stalling its recovery from the lowest level since September 18, touched Friday as a further decline in US bond yields weighs on the US Dollar. Meanwhile, the Japanese Yen benefits from a more hawkish BoJ, further weighing on the currency pair. The downside, however, seems limited as traders keenly await Fed and BoJ policy meetings later this week.

Gold holds on just above $4,000

Gold clings to daily gains, leaving behind two daily drops in a row and reclaiming the key $4,000 mark per troy ounce and above on Monday. The better tone in the US Dollar and mixed US Treasury yields accompany the precious metal’s uptick, while declining crude oil prices appear to sustain the bounce for now.

Bitcoin vs Gold: BTC springs above $80K as XAU tops $4,000 amid low compressed volatility

Bitcoin (BTC) is bouncing back above $80,000 on Monday, while Gold (XAU/USD) is springing above the pivotal $4,000 level, up a modest 0.34% and 0.64%, respectively. Both assets are advancing amid low volatility as market participants position ahead of the Federal Reserve’s (Fed) decision on Wednesday and earnings from several major tech companies.

Everyone's bracing for a hawkish central bank week. Here's why the surprise could be dovish

Five of the world's major central banks are preparing to announce monetary policy decisions this week, with investors increasingly anticipating higher interest rates as the global energy shock continues to push inflation above target.

What November 3 means for the Fed's rate path and the US Dollar

The USD faces a decisive period ahead of the November 3 midterm elections. While markets anticipate another interest rate increase from the Fed in December, the battle for control of Congress could reshape fiscal policy expectations and, indirectly, the path of US monetary policy in 2027.