Free Trial

Greenback Gains A Bid Amid Equity Weakness, CHFJPY Drops 1.05%

  • Some weakness for the equities approaching the weekend close as sentiment is dampened surrounding any potential discussions of a HAMAS- Israel ceasefires. Fresh lows for e-minis produces a moderate greenback bid, which sees the likes of EURUSD and GBPUSD roughly 30 pips off the earlier highs. Some notable divergence between notorious safe havens on Friday sees CHFJPY extend declines on the session to over 1%, which eats into a healthy portion of the October rally.
  • The Japanese yen is the best G10 performer on Friday ahead of next Tuesday’s BOJ decision. We anticipate that the BOJ will uphold its existing policies in the forthcoming announcement. This includes keeping the short-term interest rate at -0.1%. In a Reuters survey of economists conducted between October 17-25, 25 out of 28 economists expected no change in policy at the upcoming meeting, while the remaining three—Barclays, JP Morgan, and UBS—predicted that the BOJ would begin unwinding its accommodative stance.

To read the full story



MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.