Marketmind: Japan's dramatic FX, bond market divergence

FILE PHOTO: A worker holds samples of new Japanese yen banknotes at a factory of the National Printing Bureau producing Bank of Japan notes at a media event about the new notes scheduled to be introduced in 2024, in Tokyo, Japan, November 21, 2022.

Particular attention will be paid to China's 'unofficial' Caixin PMI report, a day after 'official' PMI data showed that factory activity unexpectedly contracted in October. Not only that, it shrank faster than the most pessimistic prediction in a Reuters poll had forecast. But if the yuan is under pressure, it is nothing compared to the onslaught Japan's yen is facing. After the Bank of Japan on Tuesday scrapped the 1 per cent ceiling for the 10-year government bond yield, the yen sank to a new one-year low against the dollar and a fresh 15-year low against the euro.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Asian stocks waver, yen wobbles as BOJ takes centre stageSINGAPORE : Asian equities eased on Tuesday, while the yen remained close to a two-week high as traders braced for the Bank of Japan's policy decision when it is likely to lift its inflation forecasts and ponder tweaks to its bond yield control. The yen weakened 0.19 per cent to 149.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »