Euro gains; yen flounders ahead of c.bank bonanza

hl.co.uk:

We don’t support this browser anymore.
This means our website may not look and work as you would expect. Read more about browsers and how to update them here.

Newsroom

Newsroom articles are published by leading news agencies. Hargreaves Lansdown is not responsible for an article's content and its accuracy. We may not share the views of the author.

HL Podcast

HL Insight

The euro clung to gains on Tuesday following hawkish comments from European Central Bank (ECB) policymakers, while the yen languished near a 10-month low ahead of a key rate decision from the Bank of Japan (BOJ) later in the week.

Article originally published by Reuters. Hargreaves Lansdown is not responsible for its content or accuracy and may not share the author's views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest.

Published by

19 Sep 2023

Currency moves were subdued in early Asia trade as markets stayed on guard ahead of this week's slew of central bank meetings, with the Federal Reserve taking centre stage and the BOJ grabbing the spotlight in Asia.

The euro eked out a slight gain to trade at $1.0695, having risen 0.3% in the previous session as ECB officials suggested further rate increases were on the cards — comments which boosted euro zone government bond yields.

«With ECB speak noting how inflation is not expected to come down anytime soon… we should all be gearing to this idea that the cash rate will remain elevated for an extended period of time, and potentially a very long period of time,» said Rodrigo Catril, senior FX strategist at National Australia Bank.

A Reuters report saying the ECB may soon start discussing how to tackle the