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Investors are cutting the yen adrift, cooling on the idea that a big rally is just around the corner even as bets firm that a policy shift in Japan could come as soon as next week. ...
Investors are cutting the yen adrift, cooling on the idea that a big rally is just around the corner even as bets firm that a policy shift in Japan could come as soon as next week. Little by little, the view that the Japanese currency was the cleanest wager against the dollar - destined to zoom as Japan hiked interest rates while the Federal Reserve cut - has faded as the dollar's stubborn strength has dominated trade. One result is an uneasy calm in spot and options markets for dollar/yen as traders give up waiting for the yen to bounce.
As surprise gives way to scrutiny of the men set to lead Japan's central bank for the next five years, investors are dialling back bets on swift shifts away from super-easy policy settings.
MSCI’s Asia-Pacific index falls 0.8% as investors turn to bonds amid recession concerns; Japan’s Nikkei drops 1% as markets doubt BOJ’s commitment to its ultra-easy policy
By Tom Westbrook SINGAPORE (Reuters) - Asian stock markets struggled to make headway on Thursday, after weak U.S. consumer data stoked recession worri...