Daily News | Japanese status quo

The foreign exchange world is still waiting for the Japanese government’s move, but that did not stop all relevant currencies from moving once again. The dollar fell 0.9 percent against the yen to 104.84 JPY, and the euro moved 1 percent to 115.19 yen. When Masashir Murata, Brown Brothers Harriman’s currency expert was describing the whole Japanese stimulus situation, he said that it seems to be “buy the rumor, sell the fact”, meaning that the information released doesn’t necessarily correspond with what will really happen. It also emphasizes the role of the media in the monetary speculations, which is also something that every foreign exchange trader should keep in mind.

However, the latest predictions of the analysts aren’t very optimistic: they think that Japan won’t fulfill the task of reaching their GDP of 600 trillion yen in 2020. As for the daily news, the currency pair dollar/yen was under the great pressure due to the latest killing spree in Tokyo because at first sight nobody could confirm that it wasn’t the terrorist attack. In the U.S., everyone is still waiting for the results of the central bank’s meeting (it ends on Wednesday). The Australian dollar climbed 0.2 to $0.7482, and the pound fell 0.2 percent to $1.3118. Martin Weale, the policymaker in the Bank of England, said to the Financial Times that he still doesn’t know if he is going to cut the rates.

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