AFMC - Jump In Japanese Bond Yields Fails To Lift The Yen
2024-05-20 07:50:00 ET
Summary
- Most of the G10 currencies are +/- 0.1% against the dollar.
- The BOJ's reluctance to continue to reduce its bond purchases seemed to strengthen perceptions that it was not as concerned about the yen's weakness as was the Ministry of Finance.
- The economic diary of the eurozone is pretty light on market-moving data, with Thursday's preliminary PMI the highlight.
Overview
The foreign exchange market is quiet. Most of the G10 currencies are +/- 0.1% against the dollar ([[DXY]], [[USDOLLAR]]). The crash that took the of Iran's president and foreign minister may have helped lift gold to new record highs ($2450), but the impact seems more muted, as poor weather, rather than foul play, seems to be the main narrative. July WTI reached nearly $80, its best level since May 1, but is hovering around unchanged levels (~$79.50). Canadian markets are closed today for a national holiday, while no fewer than five Fed officials speak today, which includes three governors and two regional presidents who vote on the FOMC this year....
Jump In Japanese Bond Yields Fails To Lift The Yen