SINGAPORE, Sept 19 — The euro clung to gains today following hawkish comments from European Central Bank (ECB) policymakers, while the yen languished near a 10-month low ahead of...
SINGAPORE, Sept 19 — The euro clung to gains today following hawkish comments from European Central Bank policymakers, while the yen languished near a 10-month low ahead of a key rate decision from the Bank of Japan later in the week.
“With ECB speak noting how inflation is not expected to come down anytime soon... we should all be gearing to this idea that the cash rate will remain elevated for an extended period of time, and potentially a very long period of time,” said Rodrigo Catril, senior FX strategist at National Australia Bank.
In Asia, the yen JPY=EBS slipped marginally to 147.64 per dollar and was kept pinned near last week’s 10-month low of 147.95 per dollar. “And we think that that needs to happen with a set of new forecasts, and that’s why we don’t think that we will get many surprises on Friday.” “The market is fully pricing in a hold and this meeting was always likely to be a pass since the Fed skipped June, effectively moving to an every-other-meeting cadence,” said Erik Weisman, chief economist and portfolio manager at MFS Investment Management.
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