Foreign Exchange Insights and Next Week
Next Week’s Menu: June 18 – 24, 2022
June 17, 2022
Central Banks: Monetary policies to be reviewed in China, Euroland, Iceland, Norway, Mexico, Turkey, Georgia, Indonesia, the Czech Republic and the Philippines. Minutes of the prior meetings at the Reserve Bank of Australia and the Bank of Japan will be published. So will results of the Federal Reserve’s annual stress tests of commercial banks. Fed […] More
Central Bank Watch
Bank of Japan Stands its Ground
June 17, 2022
The Bank of Japan Board met for 4 hours 35 minutes over two days and left its short-term interest rate and 10-year JGB yield targets unchanged at -0.10% and “around zero percent.” In the 8-1 vote, Board member Kataoka once again dissented, favoring more deeply negative rates and overall stimulus. Japan’s central bank launched its […] More
New Overnight Developments Abroad - Daily Update
Volatile End to a Volatile Week as Bank of Japan Declines to Join Bandwagon of Monetary Policy Tighteners
June 17, 2022
The weighted DXY dollar index is 0.8% firmer than at Thursday’s close but 1.3% below Wednesday’s multiyear high. Against individual currencies in overnight trading, the dollar jumped 1.9% against the Japanese yen but slumped 1.6% relative to the Russian ruble. The greenback also rose 0.9% versus the Australian dollar, 0.6% vis-a-vis sterling, 0.5% versus the […] More
