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FXstreet.com (Guatemala) - Derek Halpenny, European Head of Currency Strategy at the Bank of Tokyo Mitsubishi UFJ noted that EM’s had settled down in respect of the FX space.

Key Quotes

"A welcome air of relative stability is evident across the EM's FX space this morning with perhaps a realisation that while the measures taken by central banks this week may not prove sufficient, the steps were at least in the right direction for restoring stability to foreign exchange rates. It is still way too early to conclude that this episode of volatility is behind us and hence there are still risks that the yen could lurch higher."

"Liquidity was not the best during the Asian trading session with much of Asia off to celebrate Chinese New Year. Tokyo was open though and we had the inflation data released with the nationwide data indicating continued upward price pressures while the Tokyo data came in a bit on the weaker side. The core nationwide annual inflation rate increased from 1.2% to 1.3% in December. However, the core-core Tokyo annual CPI rate remained unchanged at 0.3%, in contrast to an expected rise."
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