Stimulus Speculation Drags On Yen
Umer Jamshaid Published July 25, 2016 | 11:03 AM
TOKYO,(APP - UrduPoint / Pakistan Point News - 25th july,2016) - The Yen slipped Monday on mounting speculation that the Bank of Japan will ramp up its stimulus programme after this week's policy meeting, while US Federal Reserve prepares for its own gathering. The meetings are the first since last month's vote in Britain leave the European Union, which caused central bankers around the world to promise fresh stimulus to negate any possible negative impact. More than three-quarters of economists polled by Bloomberg news said they expect the BoJ to make a policy move after its two-day meeting ends Friday.
"The tail risk is that if the BoJ remains firm this month, it will cause a knee-jerk risk implosion in the markets, sending stock prices plummeting and catapulting the yen higher," said Stephen Innes, senior trader at OANDA Asia Pacific. In Monday afternoon trading, the greenback rose to 106.31 yen from 106.19 yen Friday in New York.
The US unit is also well up from levels around 100 yen touched earlier this month in the aftermath of the EU leave vote.
Related Topics
Recent Stories
HEC reviews curricula for environmental sciences degree programme
ICC Asia looking forward to an action-packed Asia Cricket Week
Yuvraj Singh named ICC Men’s T20 World Cup 2024 Ambassador
Greece hands Olympic flame to 2024 Paris Games hosts
Two Kyiv hospitals evacuating over feared Russian strikes
World must act on neurotech revolution, say experts
Charles & Catherine's cancer diagnoses
Champions Alcaraz and Sabalenka through in Madrid Open
King Charles to resume some public duties during cancer treatment: palace
US defense chief announces $6 bn in security aid for Ukraine
Heavy rains cause damage to Spezand-Taftan railway track
Woman stabbed in Israel, attacker killed: police
More Stories From World
-
Taiwan hit by several quakes, strongest reaching 6.1-magnitude
18 minutes ago -
'Ballistic' Bairstow stars as Punjab pull off record T20 chase
18 minutes ago -
Tennis: ATP/WTA Madrid Open results - 2nd update
18 minutes ago -
Junta-led Burkina Faso suspends BBC, Voice of America for two weeks
1 hour ago -
Two Kyiv hospitals evacuating over feared Russian strikes
2 hours ago -
World must act on neurotech revolution, say experts
2 hours ago
-
Charles & Catherine's cancer diagnoses
2 hours ago -
King Charles to resume some public duties during cancer treatment: palace
2 hours ago -
US defense chief announces $6 bn in security aid for Ukraine
2 hours ago -
Woman stabbed in Israel, attacker killed: police
2 hours ago -
Israeli-fired unexploded bombs could take 14 years to clear: UN
2 hours ago -
US announces $6 bn in security aid for Ukraine
2 hours ago