News Headline Summary
Seeing some moderate strengthening of JPY as USD/JPY trades around session lows, in thin volumes as the market eyes recent comments from LDP's Abe and indecision from Brussels - trades 82.30 (15 pips) last
Analysis details (00:44)
- Before the start of the session we had comments from Japanese opposition LDP leader Abe who said that he is not thinking of FX intervention to push JPY lower and that FX intervention is ineffective. - These comments are more hawkish than usual from Abe was recently suggesting that he would change Bank of Japan law to get a 2% inflation target.
- We have also had familiar indecision from EU leaders in Brussels as they fail to meet an agreement on the EU budget, Eu leaders will reconvene today at 1200CET but German Chancellor Merkel doubts that they can reach a deal at this summit and will need another summit next year to resolve the EU budget.
23 Nov 2012 - 00:36
Subscribe Now to RANsquawk
Click here for a 1 week free trial
RANsquawk provides audio news and commentary for over 15,000
professional traders and brokers worldwide. Services include:
Real-time audio coverage from 0630 to 2200 London time plus Asia-Pac 2200 to 1000 London time
Teams of analysts covering equities, fixed income, FX, energy, and metals markets
Real-time scrolling news service with instant analysis
Daily and weekly pre-market research and calendars
Video updates covering near-term key risk events & primary trading themes
One-to-one chat with our expert analysts