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Here is what you need to know on Tuesday, June 6: The Australian Dollar outperforms its rivals early Tuesday following the Reserve Bank of Australia's

This document has been translated from a Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the... | May 31, 2023

Governor Kazuo Ueda of the Bank of Japan chaired his first monetary policy meeting this week.

Yen declined broadly in Asian session as traders discovered that BoJ still has the potential to surprise the market with dovish moves. The selloff was triggered by the central bank's plan to review monetary policy in 12 to 18 months, a major disappointment for those who expected imminent changes as early as at today's meeting. Additionally, BoJ projects that core inflation will not sustain above target within the projection horizon. Risk-on sentiment, following the strong rebound in US stocks overnight, is another factor pressuring Yen. With the BoJ risk now cleared, bears should be ...

Dollar is facing renewed pressure against European majors in early US trading sessions due to faster-than-expected declines in headline inflation. However, it continues to hold strong against Japanese Yen, which remains the worst performer for both the day and the week. Yen is continuing the post-BoJ selloff, with no signs of stopping as of yet. Euro is weaker compared to British Pound the Swiss Franc after mixed GDP data, while the Australian and Canadian dollars are not faring much better.