Sign up to create alerts for Instruments,
Economic Events and content by followed authors
Free Sign Up Already have an account? Sign In
Quotes
All Instrument Types
- All Instrument Types
- Indices
- Equities
- ETFs
- Funds
- Commodities
- Currencies
- Crypto
- Bonds
- Certificates
Please try another search
🧐 ProPicks AI October update is out now! See which stocks made the list Pick Stocks with AI
Forex - Yen weakens as BoJ starts 2-day policy meeting, Bernanke awaited
Published Nov 19, 2013 05:19PM ET
Updated Nov 19, 2013 06:00PM ET
USD/JPY traded at 100.18, up 0.04%, in a range of 100.14 - 100.22 ahead of October trade data at 0850 local time (2350 GMT) expected to show a deficit of JPY814 billion.
AUD/USD traded at 0.9428, down 0.06%, in a range of 0.9426 - 0.9434 ahead of Westpac-Melbourne Institute leading index for September at 1030 local time (2330 GMT) which came in at 3.2% the previous month. Also on the calendar are remarks by Reserve Bank of Australia Assistant Governor Guy Debelle at 1130 local time (0030 GMT).
Overnight, the dollar traded lower against most major currencies ahead of the release of the minutes from the Federal Reserve's October policy meeting, which investors doubted would contain hints as to when the U.S. central bank will announce plans to scale back stimulus programs.
Federal Reserve Chair Ben Bernanke is also due to speak in public later Tuesday, and markets took up positions betting that the nation's top economist won't signal the need for a timetable to begin tapering the Fed's USD85 billion in monthly bond purchases, which keep the greenback weak to spur recovery.
Last week, Fed Chair Nominee Janet Yellen suggested the economy still needs the U.S. central bank's ultra-loose monetary policies to ensure recovery, and on Monday, the Fed's Bank of New York chief William C. Dudley said he was hopeful that recovery will gain steam soon but made no indication over a need to consider scaling back bond purchases.
Investors also bet that the minutes of the Fed’s October meeting due for release on Wednesday will paint a similar picture for the need to hold off on scaling back stimulus tools for now.
Meanwhile across the Atlantic, European Central Bank board member Joerg Asmussen warned that monetary authorities must be “very careful” when considering the use of negative interest rates to steer the economy away from low inflation rates, which supported the single currency.
EUR/USD traded at 1.3535, down 0.03%, in early Asian markets.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was at 80.70, down 0.02%, in Asian trade.
On Wednesday, the U.S. is to release data on retail sales, consumer inflation, existing home sales and business inventories.
Related Articles
Add Chart to Comment
Confirm Block
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.
Report this comment
I feel that this comment is:
Comment flagged
Thank You!
Your report has been sent to our moderators for review
Add a Comment
We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
Enrich the conversation, don’t trash it.
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.