Powered By

Breaking News

BoJ fails to reach inflation target hurting yen

Publish Date28/12/2012 05:45:10 AM

Last Update28/12/2012 08:43:08 AM

The Bank of Japan failed to achieve targeted inflation rate of 1.0% as consumer prices excluding fresh food and energy fell 0.1% in November.

Today’s inflation data hit Japanese yen trading it at lowest since August 2010 against the U.S. dollar, as expectations grow that new Japanese government will add pressure on BoJ to add more stimulus in order to achieve a new inflation target of 2.0%.

Japanese yen declined visibly during this week against the dollar and major currencies in markets suffering low liquidity due to holidays, as the recent negative economic indicators and high expectations for further measures participated in yen’s decline.

The USD/JPY pair rose to highest in 28 months at 86.62 and now trading near 86.44, while the EUR/JPY pair recorded highest in 17 months at 114.68 and now at 114.49.

The Australian dollar and New Zealand dollar trended steadily during today’s session after the recent decline against the dollar, where the AUD/USD pair recorded a high of 1.0385 and low of 1.0360 while the NZD/USD pair recorded high of 0.8214 and low of 0.8196.


Member Account Required
You must be registered as a member of the forums and logged into your account to post messages. If you do not have a member account, please Sign In or Register.
United States
Asia Pacific
Economic Calendar
Holiday Calendar
ECB Calendar
Feds Calendar
BoE Calendar
Boj Calendar
Top News
FX Updates
Market News
Global Highlights
Political News
Around the World
At A Glance & Video Commentaries
Market Pulse
Press Releases
About Us
Contact Us
Privacy Policy
Terms of Services

Risk Disclaimer : All information on this page is subject to change. The use of this website constitutes acceptance of our Privacy Policy and Terms of Service. Please read our Privacy Policy, Risk Disclaimer, Terms of Services and all legal disclaimers. Please note that Forex trading (OTC Trading) involves substantial risk of loss, and may not be suitable for everyone.

Opinions expressed at ICN.com are those of the individual authors and do not necessarily represent the opinion of ICN.com or its management, shareholders, affiliates and subsidiaries. ICN.com has not verified the accuracy of any claim or statement made by any independent writer and is reserved as their own and ICN.com is not accountable for their input. Any opinions, news, research, analysis, prices or other information contained on this website, by ICN.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. ICN.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. The data contained on this website is not necessarily real-time or accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market prices, meaning prices are indicative and not appropriate for trading purposes. ICN.com does not bear any responsibility for any trading losses you might incur as a result of using this data.