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Yen falls broadly in Asian session today, influenced by the dovish sentiments expressed BoJ's Summary of Opinions of December meeting. The document indicated a lack of urgency among board members to tighten monetary policy, with a particular emphasis on the minimal risk associated with delaying the exit from negative interest rates. Conversely, the board expressed concerns about the potential risks of tightening too early. This cautious stance reflects the board's ongoing focus on the establishment of a "virtuous" cycle between wages and prices, a key prerequisite for any consideration of a rate hike. The spring wage negotiations are set to be a pivotal moment for the BoJ to evaluate the emergence of this cycle. Despite this dovish outlook, Yen's retreat in the forex market was notably restrained. ....
In today's subdued trading environment, Sterling Euro have emerged as the strongest currencies, outperforming Australian Dollar and New Zealand Dollar. The ascendancy of these European currencies does not appear to be driven by any specific fundamental factors. Instead, it seems to be part of a rotational trend where different currencies take turns rallying against Dollar and Japanese Yen. Currently, it is the turn of Euro and Pound to experience this upward movement. ....
Swiss franc snoozing - MarketPulse marketpulse.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from marketpulse.com Daily Mail and Mail on Sunday newspapers.