OctaFX | OctaFX Forex Broker
Open trading account

Forex Flash: Abe describes Yen weakness as net plus for Japanese economy - BTMU

FXstreet.com (Barcelona) - Lee Hardman, FX analyst at the Bank of Tokyo Mitsubishi UFJ notes that Japanese Prime Minister Abe described the yen weakening trend as an overall plus for the Japanese economy when speaking to parliament overnight.

He adds that the BoJ confirmed overnight that Japanese household assets increased at their fastest pace in five years during Q4 2012 rising to JPY1,547 trillion. He writes, “It has helped consumer confidence rise to a five and half year high in February which could drive to consumption lead economic recovery in Japan. Abeonomics is still proving popular amongst the Japanese public with the latest Nikkei opinion poll revealing that support for the Cabinet remaining elevated at 69% in March.”

Forex: EUR/USD rises again above 1.3000

The EUR/USD moved to the upside early in the day with news of an agreement between Cyprus, the Troika and EU finance ministers. Peaked at 1.3048 high, the pair retraced its gains and moved to 1.2985 ahead of the European opening. The market is now back above 1.3000 area and attempts at restoring its gains.
Read more Previous

Forex Flash: USD/CAD holds broader outlook ahead - BBH

Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman notes that the US dollar spent the past week in fairly narrow trading ranges against the Canadian dollar.
Read more Next
Start livechat