27 Aug 2015
Did BoJ Kuroda hint further Yen depreciation over?
FXStreet (Bali) - One of the main take-aways from BoJ Kuroda speech today out of NY, was the comment about "Abenomics has corrected excessive yen appreciation."
The headlines, more than any other - rest sounded quite familiar - , has prompted some Yen buying, with the USD/JPY now bouncing off 119.80 session lows, after having retraced off highs near 120.40, in an environment that remains quite constructive to see risk bids return after the major recovery in the S&P 500 and US Treasury selling. At present time though, the selling seen in the Nikkei 225 post Kuroda speech, is also weighing on the pair.
The headlines, more than any other - rest sounded quite familiar - , has prompted some Yen buying, with the USD/JPY now bouncing off 119.80 session lows, after having retraced off highs near 120.40, in an environment that remains quite constructive to see risk bids return after the major recovery in the S&P 500 and US Treasury selling. At present time though, the selling seen in the Nikkei 225 post Kuroda speech, is also weighing on the pair.