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JPY garnering support on all fronts - The.....>

FOREX
FOREX: JPY garnering support on all fronts
- The BoJ stood pat on policy, but tweaked language around its forward guidance
(as anticipated in an earlier Nikkei report) & now promises to keep rates low
"as long as it is necessary." JPY initially failed to respond, but began to
gather steam alongside the European open, getting a helping hand from reports
suggesting that China are said to doubt a long-term trade deal is possible with
Trump, and will refuse to budge on major structural reforms. This pressured
USD/JPY through the Y108.50 mark ahead of the NY crossover.
- In South Korea, a beat in industrial output, the largest fall in chip
inventories in two years, and a strong Samsung earnings report put a bid into
KRW, rendering it the best performer in Asian FX space. Augmented by USD
weakness, these factors dragged USD/KRW to fresh multi-month lows.
- GBP trades well as MPs head into their final days in the Commons before
parliamentary business concludes and election campaigns begin.
- EZ & Canadian GDPs, EZ CPI, US personal income/spending & MNI Chicago PMI are
due. ECB's de Guindos also set to speak.
Energy BulletsCommodities
Energy BulletsCommodities

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