The yen was lower after two days of declines versus the dollar before Prime Minister Shinzo Abe submits his nomination for the next Bank of Japan (8301) governor, amid speculation a program of monetary easing will follow.
The U.S. was higher against most major peers before Commerce Department data forecast to show a higher estimate for economic growth in the fourth quarter. The Australian dollar weakened after documents released by a Freedom of Information request showed the nation’s central bank views its currency as overvalued. Abe is expected to nominate Asian Development Bank President Haruhiko Kuroda as the new BOJ chief and academic Kikuo Iwata as a deputy in parliament today.
“Prime Minister Abe has been very vocal on what he wants the BOJ to do, and Kuroda will push for that easing to support growth,” said Janu Chan, a Sydney-based economist at St. George Bank Ltd. “That’s what’s behind the yen weakness of recent months. All those expectations are embedded in the yen now.”
Get OANDA’s exclusive weekly Market Pulse FX
HTMLText
| Email Address: | Preferred Format: |
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
View the original article: http://forexblog.oanda.com/20130227/usdjpy-back-above-92-before-abe-submits-boj-nominees/
A quick look on #UCO website will produce a ton of fresh #MLM ideas to help you get more money. Go to http://www.uconnective.com
To Signup you must have a #UCO coin, you can #BUY it with only $3 from ClickAlert or Send e-mail at clickalert@ymail.com or Call/SMS to +1 (202) 599-1808 and start earning $51 per day!
No comments:
Post a Comment