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  1. #1
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    Japanese Yen

    The yen rose from near its weakest level against the dollar since June 2010 after the Bank of Japan (8301) said it will conduct open-ended asset purchases from 2014, disappointing investors who expected bolder action now.

    Japan’s currency advanced at least 0.2 percent against all of its 16 major counterparts after the BOJ said it will buy about 13 trillion yen ($146.6 billion) in assets per month from January 2014 and as it set a 2 percent inflation target. The euro rose for the first time in three days versus the dollar after German investor confidence in January increased to the highest in 2 1/2 years, adding to signs that Europe’s largest economy is gathering momentum.

    source_http://www.bloomberg.com/news/2013-01-21/yen-snaps-rally-from-2-1-2-year-low-before-boj-policy-decision.html

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  2. #21
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    The yen fell against all its major peers as Bank of Japan (8301) Governor Haruhiko Kuroda outlined monetary easing options to achieve a 2 percent annual inflation goal in two years.
    Japan’s currency snapped a three-day advance against the dollar after Kuroda said the BOJ will consider extending the maturities of bond purchases and scrapping a limit on such buying.
    “The speculative community has driven dollar-yen higher,” said Jonathan Cavenagh, a currency strategist in Singapore at Westpac Banking Corp. (WBC) For Kuroda, “the bar is set quite high in terms of what he’s going to have to deliver to give dollar-yen a significant boost.”
    The yen fell 0.1 percent to 94.22 per dollar as of 6:06 a.m. in London, halting a three-day, 2 percent advance. It lost 0.2 percent to 121.28 per euro.
    Kuroda told lawmakers today that the BOJ will discuss purchasing more bonds with longer maturities. The BOJ currently buys government bonds maturing in three years or less through its 76 trillion-yen ($807 billion) asset-purchase program.
    He also said the BOJ may scrap its so-called banknote rule of keeping central bank bond holdings at less than the value of banknotes outstanding. Policy specifics will be discussed at the BOJ board meeting, Kuroda said, with the next one scheduled for April 3-4.

    source_http://www.bloomberg.com/news/2013-03-26/yen-holds-gain-versus-peers-as-boj-s-kuroda-speaks-in-parliament.html

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  3. #22
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    The yen dropped against most of its major peers as traders bet Bank of Japan (8301) Governor Haruhiko Kuroda will add to stimulus measures as early as next week in a bid to end deflation.
    Japan’s currency slid for a second day before Kuroda appear before parliament tomorrow after telling lawmakers yesterday he aims to achieve 2 percent annual inflation in two years. The euro traded 0.2 percent from a four-month low versus the dollar as concern of contagion from Cyprus’s banking crisis sapped confidence in the currency bloc. The won fell for the first time in three days as the risk of conflict on the Korean peninsula spurred sales of South Korean shares by global funds.
    “Traders are very comfortable selling the yen, and that won’t change after the policy meeting,” said Kikuko Takeda, a senior currency economist at Bank of Tokyo-Mitsubishi UFJ Ltd in London, referring to the BOJ gathering on April 3-4. “Kuroda will be focused on how to control market expectations over the long term. That may be an even more pressing challenge for the BOJ than aggressive easing.”

    source_http://www.bloomberg.com/news/2013-03-26/yen-weakens-versus-peers-as-traders-bet-on-more-boj-stimulus.html

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    The yen gained against all its 16 major peers after Bank of Japan (8301) Governor Haruhiko Kuroda reiterated policy easing options, damping expectations for novel measures to be unveiled as early as next week.

    “Kuroda’s been talking up more aggressive easing and stamping out deflation,” said Janu Chan, a Sydney-based economist at St. George Bank Ltd. “If the governor does what’s expected, we’ll probably see limited reaction in the currency. There’s probably more risk that the yen strengthens than weakens.”
    The yen gained 0.4 percent to 94.06 versus the dollar as of 2:15 p.m. in Tokyo from yesterday. It rose 0.4 percent to 120.27 against the euro.

    source_http://www.bloomberg.com/news/2013-03-28/yen-gains-versus-peers-as-boj-s-kuroda-gives-no-new-policy-hints.html

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    The yen headed for its longest string of monthly losses in more than a decade on prospects lingering deflation will prompt Bank of Japan (8301) Governor Haruhiko Kuroda to boost stimulus measures at a policy meeting next week.
    The Japanese currency slid versus the dollar this quarter as Kuroda pledged action to achieve the central bank’s 2 percent annual inflation target. A report today showed consumer-price declines accelerated in February at the fastest pace in 2 1/2 years.

    “People have been rebuilding yen short positions,” said Kazuo Shirai, a trader at Union Bank NA in Los Angeles. “The yen has come a long way, and prospects for it to weaken further will very much depend on what Kuroda does at the policy meeting next week.” Short positions are bets an asset will decline.

    source_http://www.bloomberg.com/news/2013-03-28/yen-drops-on-bets-deflation-concern-to-spur-boj-easing.html

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  6. #25
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    The yen climbed to the strongest level in almost four weeks against the dollar after a gauge of U.S. manufacturing expanded less than forecast, adding to haven demand and damping bets the Federal Reserve might slow its bond- buying under quantitative easing.
    The euro fell versus the yen before data tomorrow that may show unemployment in the bloc climbed to a record, two days before the European Central Bank announces an interest-rate decision. Australia’s dollar reached a one-week low as China’s factory output trailed estimates. Japan’s currency climbed versus all of its 16 most-traded peers before the nation’s central bank opens a policy meeting this week.

    source_http://www.bloomberg.com/news/2013-03-31/euro-remains-lower-monthly-drop-on-weakening-economy.html

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  7. #26
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    The yen slumped the most in 17 months against the dollar after the Bank of Japan (8301) announced larger-than-expected economic stimulus measures that tend to devalue the currency.
    The yen slid at least 2.1 percent versus all of its 16 major counterparts as BOJ Governor Haruhiko Kuroda and his peers doubled monthly bond purchases and adopted a two-year time horizon to achieve their 2 percent annual inflation goal. The euro halted a gain against the greenback as European Central Bank officials gather today for a policy meeting that economists said will leave interest rates at a record low. The pound fell before the Bank of England announces its policy decision.
    “The BOJ certainly surprised to the upside of expectations,” said Peter Kinsella, a currency strategist at Commerzbank AG in London. “They’ve done everything that’s required to start a reflation of the economy. It’s very clear the direction is to sell yen and it’s going to weaken further.”
    The yen dropped 2.6 percent to 95.43 per dollar at 8:38 a.m. London time after sliding 2.7 percent, its biggest one-day drop since Oct. 31, 2011. It declined 2.4 percent to 122.36 per euro after reaching 122.63, the weakest level since March 25. Europe’s shared currency lost 0.2 percent to $1.2819.
    Commerzbank’s year-end target of 100 yen may be achieved sooner than expected, Kinsella said.

    source_http://www.bloomberg.com/news/2013-04-03/yen-trades-near-strongest-in-a-month-before-boj-decision.html

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  8. #27
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    The yen reached its weakest since August 2009 as investors speculated the Bank of Japan (8301)’s 7.5 trillion yen ($77.4 billion) of monthly bond purchases will devalue the currency.
    The yen’s drop may become like an “avalanche,” billionaire investor George Soros said after BOJ Governor Haruhiko Kuroda yesterday exceeded analysts’ estimates in announcing stimulus to defeat deflation. The currency pared losses after the Tokyo Stock Exchange issued and then lifted circuit breakers on Japanese government bond futures. The dollar headed for weekly losses against most major peers before data forecast to show U.S. job growth slowed last month.
    “The speed and scale with which the BOJ plans to crank up the printing presses was sufficiently impressive,” said Ray Attrill, the Sydney-based global co-head of currency strategy at National Australia Bank Ltd. “Dollar-yen will probably make new highs.”
    The yen reached 97.19 per dollar before trading little changed at 96.36 as of 6:02 a.m. in London. It has fallen 2.2 percent this week. Japan’s currency added 0.1 percent to 124.56 per euro after earlier falling as much as 0.8 percent. The euro slipped 0.1 percent to $1.2926 after climbing 0.7 percent yesterday, the most since March 22.

    source_http://www.bloomberg.com/news/2013-04-04/dollar-poised-for-weekly-declines-versus-majors-before-jobs-data.html

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  9. #28
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    The yen dropped to the weakest since June 2009 on expectations Bank of Japan (8301) measures to fight deflation announced last week will debase the currency further.

    The yen pared declines after finance ministry data showed Japan’s current account surplus, the widest measure of trade, was larger than economists forecast. “The yen is still trading on the back of the monetary policy decisions last week,” said Greg Gibbs, a Singapore-based senior currency strategist at Royal Bank of Scotland Group Plc. “We’ve come to levels which are now starting to attract some profit-taking from those who had managed to buy earlier.”

    source_http://www.bloomberg.com/news/2013-04-07/yen-drops-to-lowest-since-june-2009-against-dollar-on-boj-moves.html

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  10. #29
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    The yen slid to a more than three-year low against the euro as Japan’s Prime Minister Shinzo Abe said currency movements are having an overall positive impact. The yen plunged 6.4 percent in the previous three days versus the dollar, the most since 1988, after the Bank of Japan (8301) took unprecedented easing steps.

    BOJ officials led by Governor Haruhiko Kuroda said last week they will boost monthly bond purchases to 7.5 trillion yen ($75 billion) as they set a two-year horizon for their goal of 2 percent inflation. They suspended a cap on some bond holdings and dropped a limit on debt maturities. The central bank’s next policy meeting is on April 26.
    “Kuroda delivered on his promise in a big way, and for now at least the yen will keep selling off,” said Kazuo Shirai, a trader at Union Bank NA in Los Angeles. The Japanese currency at “100 is a big number psychologically, and I think we’ll see some strong support there.”

    source_http://www.bloomberg.com/news/2013-04-08/yen-declines-for-fourth-day-approaching-100-versus-dollar.html

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  11. #30
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    The yen halted a decline that took it to within 0.1 percent of 100 per dollar after official data showed Japanese investors sold foreign bonds.

    The yen rose versus most of its major counterparts as a technical indicator signaled the currency may pare its 6.6 percent loss against the dollar since the Bank of Japan (8301) expanded monetary easing last week. Australia’s dollar weakened for the first time in four days after the nation’s unemployment rate unexpectedly rose. South Korea’s won rose for a third day after the country’s central bank kept its key rate unchanged.
    “It is quite a surprise to see that Japanese investors were net sellers of foreign bonds,” Sebastien Galy, a foreign- exchange strategist at Societe Generale SA in New York, said in an e-mailed response to questions. “The yen’s gains today could be a factor of that negative surprise.”

    source_http://www.bloomberg.com/news/2013-04-10/yen-near-100-on-prospect-of-fund-outflow-on-boj-stimulus-plans.html

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