BMFN - Analytics

    BMFN

    428.50 5.50/10
    71% of positive reviews
    Real

    Yen hold stronger in Asia after BoJ minutes, RBA ahead

    The yen gained in Asia on Tuesday after central bank board meeting minutes cast doubt on prospects for sustained inflation and the pound fell as investors keep an eye on the Brexit vote ahead this week.

    USD/JPY changed hands at 103.66, down 0.27%, while AUD/USD traded at 0.7460, up 0.03%. GBP/USD edged down 0.17% to 1.4667.

    Ahead, the Reserve Bank of Australia releases minutes from its June meeting where it held the cash rate steady at a record low 1.75%.

    Earlier, minutes from the Bank of Japan's May meeting release Tuesday showed more caution among board members on the ability to hit 2% sustained inflation through aggressive easing.

    The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, fell 0.09% to 93.60.

    Overnight, the dollar continued to hover at one-week lows against the other major currencies on Monday, as concerns over a potential British exit from the European Union, or Brexit, eased, continued to boost market sentiment.

    Brexit concerns subsided after two opinion polls published on Saturday showed that support for the 'Remain' campaign had regained its lead over a vote to leave, while a third showed momentum shifting in favor of a vote to remain in the 28 member bloc.

    Campaigning for the June 23 referendum resumed on Sunday after a three-day break prompted by the killing of pro-EU British lawmaker, Jo Cox.

    Investors were now eyeing testimony on monetary policy by Fed Chair Janet Yellen, due on Tuesday and Wednesday.


    To leave a comment you must or Join us


    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree