Japan heads for snap election
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Japan's wholesale inflation slowed in the year to December on sliding fuel costs, data showed on Thursday, a sign falling crude oil prices were offering some relief to companies facing rising labour and other raw material costs.
Japan's financial authorities are getting annoyed about the weak yen. And it's easy to see why. The currency early Wednesday fell to more than 159 per U.S. dollar, leaving it only a few yen shy of its weakest in more than 30 years,
The USD/JPY pair trades in a tight range around 158.50 during the Asian trading session on Thursday. The pair consolidates as the upbeat US Dollar (USD) has offset the decent recovery in the Japanese Yen (JPY).
The yen held onto overnight gains on Thursday but was pinned near 18-month lows as traders remained wary of intervention after strong warnings ahead of an election in Japan that could usher in more fiscal stimulus and keep the currency constrained.
Speculation over snap polls and big spending plans weakens currency, pushing traders to brace for Tokyo’s next move
Japanese officials have stepped up warnings against what they describe as excessive and speculative FX moves Read more at The Business Times.
The yen stabilised near 18-month lows on Thursday as markets remained cautious over intervention risks after strong verbal warnings from Japanese officials ahead of a national election. The yen was steady at 158.
USD/JPY eyes 160 as Japan election risks and fiscal stimulus plans send JGB yields higher and weaken the yen despite growing BoJ rate hike expectations.
Japan’s finance minister issued a fresh warning to speculators after the yen weakened to its lowest level against the dollar in 18 months amid reports of a snap general election.
The USD/JPY pair tumbles to around 158.25 during the early Asian session on Thursday. The Japanese Yen (JPY) rebounds against the US Dollar (USD) after Japanese officials warned of potential intervention to shore up the currency.
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