Yen Extends Gains As Bank Of Japan, Fed Kick Off Meetings
Faizan Hashmi Published September 20, 2016 | 11:50 AM
TOKYO, (UrduPoint / Pakistan Point News -20th Sept,2016) - The Yen extended its gains in Asian trading Tuesday as the Japanese and US central banks kick off their latest policy meetings. The Bank of Japan headed into a two-day gathering, with investors unsure about its plans for monetary policy as more than three years of stimulus has largely failed to boost growth and inflation.
More than a half of economists surveyed by Bloomberg news expect the BoJ to step up its easing efforts, with many betting it may opt to cut interest rates further into negative territory in a bid to spur lending by commercial banks.
The decision from the BoJ, which is also announcing a review of its policies, will come hours before the Federal Reserve winds up its own meeting, with opinion split on whether it will hike interest rates.
"No one is prepared to take on too much risk ahead of the Bank of Japan and the Fed Open Market Committee meetings," said Chris Weston, chief market analyst in Melbourne at IG Ltd. In Tokyo, the Dollar edged down to 101.82 yen from 101.88 in New York Monday. The euro was $1.1173 and 113.77 yen, against $1.1175 and 113.85 yen seen in New York.
Related Topics
Recent Stories
2600 uplift projects near completion across South Punjab
Project Director SFERP for early completion of road work before forthcoming mons ..
Spain vows to block BBVA's hostile bid for rival bank
Bank of England holds rate at 16-year high, signals looming cut
London, Frankfurt hit record highs on rate-cut hopes
Entire road work completed before forthcoming monsoon: Kanasaro
Crespo-Kewell Champions League rivalry renewed in Asian final
Bank of England holds rate at 16-year high, signals looming cut
SBP injects Rs 393.75 billion into market
Rupee sheds 10 paisa against US dollar
Federal Ombudsman' regional office holds open court at Paharpur Tehsil
Technological advancements essential for driving country's development: Shaza
More Stories From Business
-
2600 uplift projects near completion across South Punjab
3 minutes ago -
EZDMC, TESCO organise safety seminar at Mohmand Zone
15 minutes ago -
Spain vows to block BBVA's hostile bid for rival bank
11 minutes ago -
Bank of England holds rate at 16-year high, signals looming cut
11 minutes ago -
London, Frankfurt hit record highs on rate-cut hopes
11 minutes ago -
Bank of England holds rate at 16-year high, signals looming cut
14 minutes ago
-
PSX gains 56 points
55 minutes ago -
SBP injects Rs 393.75 billion into market
14 minutes ago -
Rupee sheds 10 paisa against US dollar
14 minutes ago -
Gold rates remain constant at Rs 239,200 per tola
1 hour ago -
CDNS accomplish Rs 1400 billion targets in fresh bond
2 hours ago -
District administration announces first-ever two days mango festival in Matiari
14 minutes ago