Tuesday , 19 November 2024
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ForexLive Asia-Pacific FX news wrap: USD/JPY drops to 154.00

USD/JPY
lost ground during Tokyo morning trade, falling to lows of 154.00 and
just under.

There
was little news nor data to point to as a catalyst. We did get plenty
of info from Japan including verbal intervention comments from
finance minister Kato. However, these came after the fall.

From
the Reserve Bank of Australia today we had minutes of the November
meeting. The Bank said it was vigilant to upside inflation risks, has
“minimal tolerance” for inflation above forecasts, and that
policy must remain restrictive. It did canvas what would be needed
for the Bank to consider easing, such as:

  • weak
    consumption
  • sharp
    deterioration in the labour market or forward-looking data

but
gave no indication this was imminent.

AUD
tracked a small range only, as did other major FX against the dollar
(all were lower against the yen, of course).

The
Philippine central bank signalled it’d be cutting interest rates
further this year and next.

This article was written by Eamonn Sheridan at www.forexlive.com.

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