Japanese yen improves against euro and US dollar

Posted 10 January, 2018

On Wednesday, the euro slightly weakens against US dollar during the Asian trading, while the yen keeps improving on the recent decision to reduce long-term bond buying by the Bank of Japan.

For reference, the Bank of Japan lowered purchases of state bonds with more than 25-year maturity to JPY 80 billion (JPY 10 billion down). Moreover, it has cut redemption of bonds with 10-25 year residual maturity by JPY 10 billion to JPY 190 billion.

As commented senior analyst at Faraday Research, a vague further policy of Japan's central bank caused a sell out of state bonds, which boosted bonds profitability and drove yen up.

A senior economist from Mitsubishi Tokyo UFJ Bank shares this opinion. He believes that traders started buying yen on speculations about further policy revision by the Bank of Japan. 10-year bond yield in Japan reportedly peaked since late October.

By now the USD-EUR rate has reached $1.1930 ($1.1937 at the close of the previous session).

The euro and US dollar against yen fell to 134.04 (134.47 a day before) and 112.35 (112.65) respectively.

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10 January, 2018 11:34

← Kodak plans to develop own digital coin

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Kodak plans to develop own digital coin

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09 January, 2018 17:33

EUR and GBP weaken vs USD and JPY →

At the Tuesday trading, the EUR-USD pair has kept decreasing on the reports of the US Federal Reserve. The British currency is weakening driven by the mess in the UK parliament. In China, yuan is also on downward track once the central bank canceled the adjustment under daily currency fixing. Japanese yen is reportedly strengthening vs the majority of currencies

EUR and GBP weaken vs USD and JPY
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