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Summary of opinions from BoJ Monetary Policy Meeting on June 15-16 shed light on the prevailing sentiment among policymakers regarding the nation's current monetary easing stance.
The financial markets are rather steady in Asian session today, showing little reaction to the brief "uprising" in Russia. Major indexes generally traded in tight range, with the exception of China which is just catching up the holidays on Thursday and Friday. In the currency markets, Aussie is the worst performer for now, followed by Kiwi by a distant. Yen is the stronger one, followed by Canadian. But overall, other than a few Aussie pairs, major pairs and crosses are bounded inside Friday's range.
Today sees Swiss Franc making notable gains due to an array of risk-averse factors at play. Disheartening data on German business sentiment fuels concerns about a protracted recession in the country and by extension, the broader Eurozone. While the weekend's events surrounding Wagner mutiny may not have triggered a seismic response in the markets, the ensuing rise in geopolitical uncertainty is hard to overlook. This has prompted an inflow into safe-haven assets like government bonds, consequently driving down major European and US yields. Swiss Franc stands to gain from these dynamics, both as a direct beneficiary of its safe-haven status and from buying pressure against Euro.
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