The following Forex news reports are the latest developments of the Forex market. The news reports are updated frequently and include all the events that affect the foreign exchange trading industry.
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The Euro was lifted close to an 11-month peak versus the U.S. Dollar during the Asian trading session, propped up by growing optimism that a true economic recovery in the Eurozone might finally be under way.
During the Asian trading session the Japanese Yen struck a 2½ year trough against the greenback and a multi-months low against the common currency Euro as investors focus on the government’s policies and plans to restore economic health to Japan.
Following the release of PMI data from China which was unexpectedly improved the Japanese Yen edged lower while the Australian Dollar moved higher. According to the preliminary HSBC PMI, factory sector growth surged to a level not seen in 2-years last month, providing some encouragement to investors that the global economic outlook may finally be improving.
As they have done so many times in the past, the Bank of Japan’s policy makers disappointed some bearish investors which resulted in the currency’s firming rather falling.
On the eve of the Bank of Japan’s policy setting decision, the Japanese Yen’s recent selloff came to a screeching halt during the Asian trading session, as investors decide to wait and see if the central bank would follow through on what many analysts believe will be an aggressively loose monetary policy or if they will disappoint yet again.
The Japanese Yen continues to be under heavy and widespread sell pressure as market players await the outcome of this week’s policy setting meeting by the Bank of Japan.
In the wake of a huge selloff during the Asian trading session, the Japanese Yen held close to a 2 ½ year low versus the U.S. Dollar as market players too their positions ahead of whatever bold steps the Bank of Japan might be coerced into taking at their upcoming monetary policy meeting.
The U.S. Dollar edged lower for the third consecutive day against the Japanese Yen as one member of the Japanese government reiterated its warning that the Japanese economy could be unduly harmed by the Yen’s continued weakness.
The Japanese Yen firmed against its major rivals as traders unwound their sell positions following comments made by Akira Amari, the Japanese Economics Minister, who said that the Yen’s excessive and prolonged weakness was likely to raise the price of imported goods and could hurt some people’s livelihoods.
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During the Asian trading session, the U.S. Dollar held close to an 11-month trough versus the common currency Euro following comments made by Ben Bernanke who suggested that the ultra loose monetary policy was likely to be in place for many months to come.
The Japanese Yen struck a fresh multi-year low against the U.S. Dollar during the Asian trading session following the government’s call on the central bank to establish a new medium term inflationary target.
The Japanese Yen fell to a multi-year low against the U.S. Dollar during the Asian trading session following new comments made by the Prime Minister who indicated that the Japanese central bank should include the maximization of employment as one of its policy goals along with its mandate to ensure price stability.
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The U.S. Dollar firmed against the Japanese Yen during the Asian trading session after a fall from a 2½-year peak encouraged traders to buy the greenback on the dip.
The Euro steadied versus the Japanese Yen during the Asian trading session regrouping from the earlier struck low following comments made by Japan’s Finance Minister who said that the country would purchase the Eurozone’s bailout fund bonds which were issued by the European Stability Mechanism.