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Top News In Boj Ueda Today - Breaking & Trending Today
Yen displayed impressive strength in Asian session, following hawkish remarks from BoJ Governor Kazuo Ueda over the weekend. Speculation is rife that the central bank is laying down preparations to exit negative rates early next year, with sustained wage growth being a key prerequisite, as echoed by various BoJ officials. ....
Trading in the European session has been relatively muted, with the primary contributor to the quietness being a notably thin economic calendar. Euro experienced a mild dip following European Commission's downgrade of growth projections for Eurozone for the current year and next. While Euro displayed pronounced weakness against commodity-linked currencies, its descent was restricted against other major peers. As market participants await ECB's interest rate announcement set for this Thursday, it seems that Euro traders are preserving their substantial positions for the time being. ....
Consumers showed more optimistic on growth but anticipate less income in coming months and scaled back spending on big-ticket items. So near-term recession fears are clearly overdone, but a slowdown is still in the making. This creates space for the Fed to implement its June plans to hike at least once and likely twice. ....
In the article, sources close to the matter suggested that hawkish ECB members wanted to accelerate running down the balance sheet by either actively selling bonds from the APP portfolio or by phasing out the reinvestment policy from the Pandemic Emergency Purchase Programme. ....
Fed, ECB, BoE heads reiterate hawkish views. BoJ reiterates dovish stance. US Treasury yields down 4-5bps regardless. NZ swap rates dragged down by Australian rates ....