JPY Weaker in Asia

The yen weakened to trade at 114.14 to the dollar at 11:40 a.m. HK/SIN. The currency had initially traded at 113.88 yen to the dollar immediately after the news, compared with levels around 113.96 seen before.

The weakening in the yen also followed the Bank of Japan stepping up plans for its bond-buying program on Friday.

“A surprising pivot by the BOJ has policy divergence between the U.S. and Japan back to the fore … It’s hard not to remain constructive on the dollar/yen given the divergence narrative and we could see the dollar/yen push higher early this week,” OANDA senior trader Stephen Innes said in a Monday morning note.

CNBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Stephen Innes

Stephen Innes

Head of Trading APAC at OANDA
Stephen has over 25 years of experience in the financial markets and specialises in Asian currencies at OANDA. After having started his trading career with NatWest Bank, he is based in Singapore as the Head of Trading Asia Pacific with OANDA.Stephen's market views focus on the movement of G-10 and ASEAN Currencies. Stephen has an extensive trading experience in Interest Rate Futures, Money Markets and Precious Metals. Before joining OANDA, he worked with organisations like Nat West, Garvin Guy Butler, and Sumitomo Mitsui Banking Corporation. Stephen was born in Glasgow, Scotland, and holds a Degree in Economics from the University of Western Ontario.
Stephen Innes
Stephen Innes

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