The dollar fell to a seven-month low against major peers on Monday while the yen surged to an over seven-month peak, as traders ramped up bets that the Bank of Japan may make further tweaks to its yield control policy at its meeting this week.
The Aussie breached the key $0.7000 level for the first time since August, and last gained 0.29% to $0.6995, after rising as high as $0.7019 earlier in the session.Against a basket of currencies, the U.S. dollar index slumped to a seven-month trough of 101.77, as the greenback extended its selloff from last week after data showed thatfor the first time in more than 2-1/2 years in December. The index was last 0.3% lower at 101.95.
"The confirmation of a deceleration in price pressures is building up hopes that CPI could fall further in coming months," said analysts at OCBC. "I don't think has the luxury of time to say that they're going to assess and wait until Q2 or Kuroda to see out his term without making any further changes."Investors have been pressing for the BOJ to shift away from its ultra-easy monetary policy, which caused the yield on Japan's benchmark 10-year government bonds to breach the central bank's new ceiling for two sessions.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Yen tests seven-month high ahead of BOJ policy decision; dollar wobblesThe Japanese yen held near an over seven-month peak on Monday, as traders, in the lead up to the Bank of Japan's monetary policy decision this week, ramped up bets that the central bank could make further tweaks to its yield control policy.
Read more »
Yen surges on BOJ policy shift speculations; dollar slides to seven-month lowThe dollar fell to a seven-month low against major peers on Monday while the yen spiked to an over seven-month peak as traders ramped up bets that the Bank of Japan may make further tweaks to its yield control policy at its meeting this week.
Read more »
USD/JPY slides toward 127.00 as Japanese Yen keeps rallying ahead of BoJ decisionUSD/JPY is holding the latest downtick below 127.50, having renewed eight-month lows at 127.24. Bears remain in control at the start of the week on Mo
Read more »
Asian shares rise, yen climbs as BOJ battles bond bearsAsian shares firmed on Monday as optimism about China's reopening offset concerns the Bank of Japan (BOJ) might temper its super-sized stimulus policy at a pivotal meeting this week, while a holiday in U.S. markets made for thin trading.
Read more »
BoJ preparing to purchase more Japanese government bonds on MondayThe Bank of Japan again broke its daily record for Japanese government bond purchases Friday as yields defied its 0.5% cap, in a sign of the rising ma
Read more »
BoJ announces JPY 1.4 trillion worth of bond-buying on MondayThe Bank of Japan (BoJ) announced on Monday that it offers to buy JPY 1.4 trillion worth of Japanese Government Bonds (JGBs) unplanned bond purchases
Read more »