USD/JPY plunges on BoJ Kuroda’s comments

USD/JPY opened in Asia at 124.32 and rose to 124.61 before it plunged to 122.54. The main catalyst for the huge move centered around Bank of Japan Governor Kuroda who showed some concern about the yen’s recent weakness.

Other yen pairs were also volatile due to Kuroda’s comments. EUR/JPY was down from 140.66 to 138.85, GBP/JPY slipped from 191.59 to 189.49. AUD/JPY was already heavy, due to a dovish Reserve Bank of Australia Governor Stevens. The pair fell from 95.73 to 94.56.

EUR/USD opened little changed in Asia despite negative Greek news. It kicked off the session at 1.1281 and edged up to 1.1320. Headlines on Greece and Bund moves will likely decide direction. There is risk ahead of a meeting by Greek Prime Minister Alexis Tsipras and German Chancellor Angela Merkel and French President Hollande today. Yesterday, the latest proposal by Greece to its creditors fell short and was rejected.

GBP/USD was quiet early in the session before rising to 1.5432 after bouncing from .5368. Focus will be on Bank of England Governor Mark Carney’s Mansion House speech alter today. EUR/GBP was steady, 0.7328-44 in Asia.

USD/CHF traded a 0.9298-0.9321 range, but kept a bid tone. EUR/CHF remained bid between 1.0499-1.0514.

AUD/USD opened in Asia at 0.7689, then was down from an early high of 0.7703 to 0.7636. Australian confidence data was weak, and RBA Governor Stevens was dovish in a speech today, still jaw-boning AUD down. There was a bounce later to 0.7747 on broad USD weakness after USD/JPY tumbled on Kuroda’s comments.

NZD/USD was confined to a tight 0.7136-57 range early,then was down from 0.7150 to 0.7114 on AUD weakness post-RBA Stevens. There was a subsequent bounce on USD weakness after Kuroda, moving up to 0.7187.

The post USD/JPY plunges on BoJ Kuroda’s comments appeared first on Forex Circles.

Source:: USD/JPY plunges on BoJ Kuroda’s comments

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