Home/Newsfeed

Yen’s Fall on Possible BOJ Move Lets Japan Stocks Avoid Asia Slide

Share Print 0

Asian shares slid from a 5 1/2-month high on Friday on disappointing earnings from U.S. blue chip companies, but Japanese shares surged after a media report about a possible Bank of Japan policy change weakened the yen.

Japan’s Nikkei erased earlier losses to end the day up 1.2 percent, reaching an 11-1/2 week high and extending the week’s gains to 4.3 percent.

The yen, which held steady against the dollar earlier in the session, slipped after a report by Bloomberg News said the Bank of Japan may consider applying negative rates to its lending programme for financial institutions.

Reuters

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.

Craig Erlam

Craig Erlam

Senior Market Analyst - UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a Market Analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam

@@craig_forex

, , ,
Back to Top