The yen was on the defensive on Friday ahead of a policy decision from the Bank of Japan that could see it further reduce its massive monetary stimulus...
SINGAPORE - The yen was on the defensive on Friday ahead of a policy decision from the Bank of Japan that could see it further reduce its massive monetary stimulus, while elsewhere the euro, mired in political turmoil , was headed for a weekly loss.
"The risks are probably a little bit asymmetric. If they announce no changes, then you would expect the yen to weaken, whereas the scope for the yen to strengthen, assuming they do do something along those lines, is probably quite limited." "The Fed has changed its mind multiple times on its expected policy path, so we don't put much weight on its new set of projections - and Powell himself said he didn't 'hold it with high confidence', emphasizing the Fed's data-dependent approach," said Jean Boivin, head of the BlackRock Investment Institute.
Against the British pound, the euro was last languishing near a 22-month low and staring at a weekly decline of 0.9%. Donald Trump Chickens Out Of Head-To-Head Press Conferences With Joe Biden; Incumbent Campaign Mocks Ex-POTUS Rep. Andy Ogles suggested that Hunter Biden’s conviction in the federal gun charges case could create “an opening” for Michelle Obama to make a bid for the White House.
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