Forex Today: Yen Falls on Amamiya Governorship Rumour

The Japanese Yen fell on reports that Masayoshi Amamiya has been tapped by the Japanese government to replace Kuroda Amamiya is a known dove and would be expected to maintain the Bank’s recent ultra-loose monetary policy.

This expectation saw the Yen trade lower, and it is now the weakest currency in the Forex market, while the Australian Yen is the strongest, putting Friday’s market sentiment seems to have persisted into the new week, with stocks continuing to trade lower and the US Dollar maintaining its recent strength

. Friday’s very strong NFP data has pushed market opinion back towards the view there will be more rate hikes by the US Federal Reserve later this year, after the FOMC meeting Wednesday had begun to convince markets the current cycle of rate hikes had completed.

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Japan’s Suzuki: Have not heard anything about nomination of Amamiya as BoJ Governor“I have not heard anything about nomination of Amamiya as BoJ Governor,” said Japan's Finance Minister Shunichi Suzuki per Reuters. Also read: Japan s
Source: FXStreetNews - 🏆 14. / 72 Read more »