Analysts at Scotiabank explained that JPY is quietly consolidating this week’s decline and trading just below the midpoint of its October range. Key Quotes: “The BoJ left its key policy settings unchanged””as expected””maintaining a policy rate of -10bpts and 10Y JGB yield target of 0%.” “Inflation forecasts were revised downward and the balance of risk was revised. Risks to growth and inflation are now seen as being ‘skewed to the downside’.” “Broader developments appear to have faded in terms of driving movement in JPY and yield spreads appear to be dominating.” “The 2Y U.S.-Japan spread is now climbing back toward 300bpts and the 10Y spread has recovered nearly half of its recent compression.” “Risk reversals are also fading their recent moves and the premium for protection against JPY strength is moderating from elevated levels.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next AUD/USD ticks lower ahead of Aussie Trade Balance FX Street 4 years Analysts at Scotiabank explained that JPY is quietly consolidating this week's decline and trading just below the midpoint of its October range. Key Quotes: "The BoJ left its key policy settings unchanged"”as expected"”maintaining a policy rate of -10bpts and 10Y JGB yield target of 0%." "Inflation forecasts were revised downward and the balance of risk was revised. Risks to growth and inflation are now seen as being 'skewed to the downside'." "Broader developments appear to have faded in terms of driving movement in JPY and yield spreads appear to be dominating." "The 2Y U.S.-Japan spread is now climbing back… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
