{"id":142934,"date":"2021-10-28T05:31:35","date_gmt":"2021-10-28T05:31:35","guid":{"rendered":"https:\/\/precoinnews.com\/?p=142934"},"modified":"2021-10-28T05:31:35","modified_gmt":"2021-10-28T05:31:35","slug":"aussie-dollar-firm-as-bonds-tumble-yen-looks-past-boj","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/business\/aussie-dollar-firm-as-bonds-tumble-yen-looks-past-boj\/","title":{"rendered":"Aussie dollar firm as bonds tumble, yen looks past BOJ"},"content":{"rendered":"

HONG KONG (Reuters) – Central bank policymakers buffeted currency trading on Thursday as the Australian dollar held firm on growing speculation about the Reserve Bank of Australia\u2019s tightening plans, while the yen steadied as the Bank of Japan kept policy steady as expected.<\/p>

Slideshow ( 2 images )<\/span><\/figcaption>

Next on the agenda is the European Central Bank\u2019s rates review later in the global day, with investors looking to clues on how it plans navigate accelerating global inflation.<\/p>\n

The Australian dollar was at $0.7504, near its three month top as Australian bond yields surged to their highest since mid 2019 after the central bank declined to buy a government bond at the heart of its stimulus programme, even though yields were well above its target of 0.1%. [L1N2RO015]<\/p>\n

The yield target is central to the Reserve Bank of Australia\u2019s case that the 0.1% cash rate will not rise until 2024, so any failure to maintain it fuels market wagers that rates will have to rise much earlier, perhaps even by mid-2022.<\/p>\n

The Aussie briefly wobbled and lost 0.48% after RBA Deputy Governor Guy Debelle said policy was aiming to get more inflation just not a \u201clot more\u201d, but soon erased these losses.<\/p>\n

\u201cFor the first time in what has felt for a long time currencies are really driven by interest rate differentials, as central banks start to telegraph where they are in their normalisation cycles,\u201d said Kim Mundy, senior economist and currency strategist at Commonwealth Bank of Australia.<\/p>\n

The dollar inched 0.16% lower against the yen to 113.63, but not far off its four year high of 114.69 hit October 20, as the BOJ kept monetary policy settings steady on Thursday, as widely expected.<\/p>\n

The Japanese central bank also cut its consumer inflation forecast for the year ending in March 2022 to 0% from 0.6%, and the overall takeaway reinforced market bets it will lag other central banks in dialling back crisis-mode policies.<\/p>\n

The euro was little changed at $1.1606 ahead of the ECB meeting, sitting above its 15-month low of $1.1523 hit earlier this month.<\/p>\n

Investors are watching out for ECB\u2019s stance on rising global consumer prices and for any clarity on the outlook for its ultra-easy policy stance.<\/p>\n

While key decisions about ECB\u2019s emergency stimulus are set for its December meeting, the recent jack-up in rate-hike expectations has traders looking for any clues from Thursday\u2019s meeting.<\/p>\n

\u201cWe think ECB President Christine Lagarde will use all her diplomatic skills to moderate the diverging views of hawks and doves within the Governing Council on Thursday\u201d said ING analysts in a note, adding they anticipate a neutral message which \u201cmay ultimately defy some of the market\u2019s hawkish expectations\u201d.<\/p>\n

At the other end of the spectrum, the Bank of Canada signalled on Wednesday it could hike interest rates as soon as April 2022 and said inflation would stay above target through much of next year, due to higher energy prices and supply bottlenecks.<\/p>\n

The dollar fell against the Canadian dollaron the news and was last at $C1.2370.<\/p>\n

Sterling was little changed at $1.3745.<\/p>\n

In cryptocurrencies, bitcoin was at $58,350 continuing its slide from its record high of $67,016 on October 20. Ether was steady at $3,926.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

HONG KONG (Reuters) – Central bank policymakers<\/p>\n","protected":false},"author":3,"featured_media":142933,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23051],"tags":[],"yoast_head":"\nAussie dollar firm as bonds tumble, yen looks past BOJ - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/business\/aussie-dollar-firm-as-bonds-tumble-yen-looks-past-boj\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Aussie dollar firm as bonds tumble, yen looks past BOJ - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"HONG KONG (Reuters) – Central bank policymakers\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/business\/aussie-dollar-firm-as-bonds-tumble-yen-looks-past-boj\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-10-28T05:31:35+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/10\/Aussie-dollar-firm-as-bonds-tumble-yen-looks-past-BOJ.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/business\/aussie-dollar-firm-as-bonds-tumble-yen-looks-past-boj\/\",\"url\":\"https:\/\/precoinnews.com\/business\/aussie-dollar-firm-as-bonds-tumble-yen-looks-past-boj\/\",\"name\":\"Aussie dollar firm as bonds tumble, yen looks past BOJ - 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