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The drop in US yields and the dollar has clearly done the Bank of Japan a favour. It has taken intervention pressure off the Japanese central bank. The drop in US yields following the comments from the Fed boss last night has undermined the USD/JPY. The fact that the USD/JPY came pretty close to setting a new 30 year high above 151.95 on Monday, but could not manage it (151.71 the high) was also a factor. The fall back below 151 seen yesterday delivered a close last night at 150.95. It has fallen back further today, as disappointment over the Fed decision and changed outlook, for no further interest rates this year, has sent the dollar down as low as 150.15 this morning. It is just now trading at 150.40
Owing to technical issues there will be no further updates this afternoon. It is hoped that Quick News coverage will resume when the Amazon results...
Earlier today an update here noted the EUR/GBP was most definitely in play today and as you can see that is very much the case. So, as the GBP/USD has...
The Bank of England (BOE) has just announced the outcome of its monetary policy decision. The overwhelming general consensus was for a cut of 0.25%...
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