5 Mar 2015
EUR/JPY under pressure, BoJ dissenter Kicuhi’s comments in focus – FXMarketAlerts
FXStreet (Barcelona) - The FXMarketAlerts Team, notes that the BoJ dissenter Kicuhi’s comments warning the BoJ against too much easing, combined with the falling EUR has kept EUR/JPY under pressure, while USD/JPY has remained somewhat stable to the news.
Key Quotes
“BoJ dissenter Takahide Kiuchi says appropriate level for inflation of Japan is now lower than BoJ's current 2% target. If BoJ strengthens monetary policy easing execessively to push up prices in short period of the time, it will threaten economic, price stability. At some point, BoJ must examine gradually starting to shift focus on monetary policy away from asset purchases to other policy tools.”
“On FX, some focus on the above comments from BoJ dissenter Kicuhi, cautioning BoJ on too much easing.”
“Little impact on USD/JPY for now. USD/JPY at 119.77-79, tight 25-30 pips range of 119.64 to 119.84.”
“Offer at 120.00-10, bids at 119.50-60 for now. More bids at 119.30-40.”
“EUR/JPY under pressure at 132.65-70, as EUR, EUR/Crosses weighed ahead of ECB details on QE.”
“EUR/JPY hit 1-month lows around 132.41 in NY, lowest level since Feb 2 131.95. As EUR hit 11-half year lows of 1.1062, with talks hedge funds sold good amount of EUR yesterday.”
“EUR/JPY bids 132.30-40, offers at 133.20-50.”
Key Quotes
“BoJ dissenter Takahide Kiuchi says appropriate level for inflation of Japan is now lower than BoJ's current 2% target. If BoJ strengthens monetary policy easing execessively to push up prices in short period of the time, it will threaten economic, price stability. At some point, BoJ must examine gradually starting to shift focus on monetary policy away from asset purchases to other policy tools.”
“On FX, some focus on the above comments from BoJ dissenter Kicuhi, cautioning BoJ on too much easing.”
“Little impact on USD/JPY for now. USD/JPY at 119.77-79, tight 25-30 pips range of 119.64 to 119.84.”
“Offer at 120.00-10, bids at 119.50-60 for now. More bids at 119.30-40.”
“EUR/JPY under pressure at 132.65-70, as EUR, EUR/Crosses weighed ahead of ECB details on QE.”
“EUR/JPY hit 1-month lows around 132.41 in NY, lowest level since Feb 2 131.95. As EUR hit 11-half year lows of 1.1062, with talks hedge funds sold good amount of EUR yesterday.”
“EUR/JPY bids 132.30-40, offers at 133.20-50.”