Login Now
Sign Up
UAG Trade AsiaUAG Trade AsiaUAG Trade Asia

SINGAPORE, Sept 19 Reuters The dollar traded sideways on Tuesday as investors braced for a slew of central bank meetings this week, while the yen languished near a 10month low as Japan39;s ultraloose monetary policy once again came under fire.

Currency moves were largely subdued in Asia trade as the Federal Reserve39;s impending rate decision on Wednesday stayed top of mind, with the spotlight in Asia also on the Bank of Japan39;s BOJ policy decision due Friday.

The yen fell 0.1 to 147.76 per dollar and was kept pinned near last week39;s 10month low of 147.95 per dollar.

Expectations are for the BOJ to keep interest rates ultralow on Friday and reassure markets that monetary stimulus will stay, at least for now, even as Governor Kazuo Ueda stoked speculation of an imminent move away from ultraloose policy.

Our sense is that the BOJ needs ammunition in order to back itself in terms of any shift or even any guidance for a potential shift in policy over the coming six months to the next year, said Rodrigo Catril, senior FX strategist at National Australia Bank NAB.

And we think that that needs to happen with a set of new forecasts, and that39;s why we don39;t think that we will get many surprises on Friday.

Elsewhere, the Aussie slipped 0.09 to 0.64315, shrugging off minutes of the Reserve Bank of Australia39;s RBA September meeting that showed it considered raising rates by 25 basis points, before eventually deciding to hold the benchmark cash rate unchanged.

The…

Leave A Comment