Breaking News
0

Few Officials Saw Future Need To Raise Rates, Slow Asset Buying: BOJ Minutes

By GCI FinancialForexJan 26, 2018 02:35AM ET
www.investing.com/analysis/few-officials-saw-future-need-to-raise-rates-slow-asset-buying-boj-minutes-200283867
Few Officials Saw Future Need To Raise Rates, Slow Asset Buying: BOJ Minutes
By GCI Financial   |  Jan 26, 2018 02:35AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

USDJPY Movement
USDJPY Movement

For the 24 hours to 23:00 GMT, the USD rose 0.37% against the JPY and closed at 109.60.

In the Asian session, at GMT0400, the pair is trading at 109.38, with the USD trading 0.2% lower against the JPY from yesterday’s close.

Minutes of the Bank of Japan’s (BoJ) December monetary policy meeting showed that majority of board members believed that it was appropriate to stick to the central bank’s current monetary policy stance as inflation remains far from its 2.0% target. However, some officials expressed a need to consider raising interest rates or reducing purchases of risky assets if the economic recovery continued.

Data released overnight showed that Japan’s national consumer price index (CPI) advanced less-than-anticipated by 1.0% on an annual basis in December, adding to the complication for the central bank as it struggles to boost inflation in the nation. The CPI had registered a gain of 0.6% in the prior month, while markets were expecting for a rise of 1.1%.

The pair is expected to find support at 108.66, and a fall through could take it to the next support level of 107.95. The pair is expected to find its first resistance at 109.93, and a rise through could take it to the next resistance level of 110.49.

Going ahead, traders would await the release of Japan’s jobless rate, flash industrial production and retail trade data, all due to release next week.

The currency pair is trading above its 20 Hr moving average and showing convergence with its 50 Hr moving average.

Few Officials Saw Future Need To Raise Rates, Slow Asset Buying: BOJ Minutes
 
Few Officials Saw Future Need To Raise Rates, Slow Asset Buying: BOJ Minutes

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: GCI Weekly Highlights is provided for informational purposes only. The information contained in these reports is gathered from reputable news sources and is not intended to be used as investment advice. GCI Financial Ltd. assumes no responsibility or liability from gains or losses incurred by the information herein contained.
Continue with Google
or
Sign up with Email