Technical Analysis

ForexLive Asia-Pacific FX news wrap: USD/JPY recovers a little


  • Forex news for Asian trading on Wednesday, 21 December 2022
Eamonn Sheridan

Eamonn Sheridan

Wednesday, 21/12/2022 | 03:53 GMT-0

21/12/2022 | 03:53 GMT-0

The
Bank of Japan move on Tuesday continued to reverberate here in Asia
today, with the yield on 10-year JGBs rising, although not to the
upper limit 0.5% set by the BOJ yesterday. Japanese stocks fell in
early trade, the Nikkei 225 down around 1% at one stage. As I post
the index has retraced much of the earlier loss. Once again financial
sector stocks, such as banks and insurance companies, rose on
expectations of better profits from rising interest rates. Hong Kong and mainland China stocks gained.

USD/JPY
has continued to rally from its overnight low. USD/CHF has risen
also.

Elsewhere
across major FX it’s a story of a slightly higher USD also. AUD,
GBP, EUR, NZD, CAD are all a little lower on the session.

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