• Asian session review: The Yen fell against the US dollar

Market news

14 September 2016

Asian session review: The Yen fell against the US dollar

The yen fell against the dollar after the Japanese financial magazine Nikkei reported that the Bank of Japan at the upcoming meeting will likely consider to further reduce deposit rates. Experts point out that at the meeting on 20-21 September, the central bank will mainly discuss it negative rate, as an element of additional monetary easing. Analysts also suggest that to deal with the side effects of negative interest rates on deposits, the regulator can cut the volume of purchases of Japanese bonds maturing in 25 years and above. In addition, the Bank of Japan will once again abandon the anchor to achieve the target level of inflation at 2% in two years.

The New Zealand dollar declined on negative data on the balance of payments of New Zealand. As reported today, the Bureau of Statistics New Zealand's current account deficit in the second quarter was NZ $ 0.945 billion while analysts had expected a balance decline of NZ $ 0,411 billion The value of the balance of payments in the first quarter was revised from NZ $ 1,31 billion to NZ $ 1, 84 billion.

The Australian dollar fell on weaker data from the Westpac consumer confidence index. According to the studies of the Faculty of Economics and Commerce at the University of Melbourne, consumer confidence index in Australia increased by 0.3% in September, down from the previous value of 2.0%.

EUR / USD: during the Asian session, the pair was trading in the $ 1.1215-25 range


GBP / USD: during the Asian session, the pair was trading in the $ 1.3165-00 range


USD / JPY: during the Asian session, the pair rose to Y103.20

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