USD/JPY: BOJ Kuroda drives rate 100+ pips lower

FXStreet (Bali) - USD/JPY is selling-off aggressively following comments from BoJ Kuroda saying that Yen's excessive rises have been corrected in past 3 years, also adding that real effective exchange rate shows that yen is weak, while also saying that yen may not weaken much further on real effective exchange rate basis.

USD/JPY testing daily point of control

USD/JPY is down over 100 pips on headlines, tumbling from 124.65 session high to a session low of 123.65 on the unexpected headlines from BOJ. Technically, it will be key for buyers to hold a daily point of control between 123.50/70 in order to maintain the bullish outlook intact near term. On the topside, key resistance is found at 124.50/60 ahead of 125.00 round number.

Jun 10, 2015

RBA: Case for even lower rates has strengthened - Westpac

Matthew Hassan, Senior Economist at Westpac, expects the RBA to keep rates on hold throughout 2015 and 2016, despite recognising that since the last Board meeting the case for even lower rates has strengthened.

Central bankers’ speeches drive Asia, UK factory output eyed

A renewed pick-up in buying interest seen in the Japanese yen on BOJ Kuroda’s speech, triggered a fresh sell-off in the US dollar across the board, dragging USD/JPY to 123.50 lowest. The Kiwi also recovered losses on falling USD, bouncing-off 0.71 barrier. While AUD/USD remains pressured below 0.7700 following RBA Steven’s dovish comments.