Investing.com - Financial Markets Worldwide
🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Forex - Yen a tad weaker after BoJ holds steady, Aussie down on minutes

Published 03/16/2015, 11:58 PM
Updated 03/17/2015, 12:00 AM
Yen a tad weaker
EUR/USD
-
USD/JPY
-
AUD/USD
-
DX
-

Investing.com - The yen held slightly weaker on Tuesday after the Bank of Japan kept policy steady as expected.

The Bank of Japan board decided Tuesday by an 8 to 1 vote to leave the bank's policy target unchanged while revising down its near-term inflation outlook on weak oil prices.

Elsewhere, the Aussie remained weaker after the central bank released minutes of its latest policy decision that showed scope for a further cash rate cut.

A cash rate cut to a record low 2.25% in February needs to work its way through the economy, but a further cut may be appropriate, the Reserve Bank of Australia said in minutes from its March meeting.

USD/JPY traded at 121.37, down 0.02%, while AUD/USD changed hands at 0.7627, down 0.19%. EUR/USD eased to 1.0562, down 0.06%.

Overnight, the dollar remained lower against a basket of other major currencies on Monday, as investors continued to lock in profits from the greenback's recent rally to 11-1/2 year highs and after disappointing U.S. data dampened optimism over the strength of the economy.

Official data earlier showed that U.S. industrial production rose just 0.1% in February, falling short of expectations for a 0.2% gain.

Manufacturing output dipped 0.1% as automobile production fell, indicating that economic growth could slow in the first quarter.

Another report showed that manufacturing activity growth in New York State slowed in March for a second straight month as new orders fell.

Market participants were now eyeing Wednesday’s Federal Reserve statement to see if it would drop its reference to being patient before raising rates and signal that it is ready to hike rates depending on economic data.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.03% to 100.17.


Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.