The yen is fixed in the medium range
17.06.2015
On Wednesday morning, the USD/JPY pair is trading in the medium-term range, with the instrument fixed in the upper third of the corridor.
The Japanese yen regained ground last week, but that has not yet continued. But the JPY retreat from multi-year lows is also assessed positively. Now investors are closely watching the two-day meeting of the US Federal Reserve. It will culminate tonight, at the same time a decision on interest rates will be announced and, most importantly, comments regarding the start time of the possible tightening in the system will be given.
Last week, the market saw too many rumours and speculations on this subject, with comments coming from ordinary investors and famous monetary politicians. The International Monetary Fund believes that regulators should postpone the adoption of such a decision at least until the beginning of 2016. A number of US politicians are waiting for a fiscal rate increase in December 2015. In any case, summer is no longer considered seriously as a time for an increase. Well, we will learn the most recent information on this subject from the Fed.
Tomorrow in Japan the meeting of its own regulator will begin, and it will also last for two days. It is expected that the key parameters of monetary policy will remain unchanged.
Earlier the BoJ somewhat improved predictions about the growth of its economy, and it gives almost an absolute guarantee of the preservation of the monetary policy in its current form. In addition, the exchange rate of the yen is now convenient to exporters and the Ministry of Finance.
RoboForex Analytical Department
The Japanese yen regained ground last week, but that has not yet continued. But the JPY retreat from multi-year lows is also assessed positively. Now investors are closely watching the two-day meeting of the US Federal Reserve. It will culminate tonight, at the same time a decision on interest rates will be announced and, most importantly, comments regarding the start time of the possible tightening in the system will be given.
Last week, the market saw too many rumours and speculations on this subject, with comments coming from ordinary investors and famous monetary politicians. The International Monetary Fund believes that regulators should postpone the adoption of such a decision at least until the beginning of 2016. A number of US politicians are waiting for a fiscal rate increase in December 2015. In any case, summer is no longer considered seriously as a time for an increase. Well, we will learn the most recent information on this subject from the Fed.
Tomorrow in Japan the meeting of its own regulator will begin, and it will also last for two days. It is expected that the key parameters of monetary policy will remain unchanged.
Earlier the BoJ somewhat improved predictions about the growth of its economy, and it gives almost an absolute guarantee of the preservation of the monetary policy in its current form. In addition, the exchange rate of the yen is now convenient to exporters and the Ministry of Finance.
RoboForex Analytical Department
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.