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Statements of the Governor of Japan’s Central Bank have pushed the yen to rise

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Statements of the Governor of Japan’s Central Bank have pushed the yen to rise

Statements of the Governor of Japan’s Central Bank have pushed the yen to rise
September 06
10:30 2016

On Tuesday the yen has moved away from the lowest point of the month against the dollar. This has happened after the comments of Haruhiko Kuroda, governor of the Bank of Japan, who paid attention to the costs for the use of aggressive stimulus measures and did not clearly hint at the direction of a softer policy of the Central Bank.

The Australian dollar has risen in price on the signals about the good economic growth in the last quarter, which come from the government expenditures data and the current deficit of the payment balance. The Australian currency has risen by    0, 61 per cent and has become equal to $ 0.7629 against the previous high (26 August) at $ 0.7638.

The Reserve Bank of Australia has left the rate unchanged, as was predicted by the experts – at around 1.5 percent.

By the early afternoon on Tuesday the US dollar has risen by 0.2 percent to – 103.63 yen. The day before, on Friday, the dollar reached the maximum for the month – 104.32 yen.

A day earlier, Haruhiko Kuroda spoke about the readiness to increase the program dimensions of measures to support the economy, which is so great. However, Kuroda didn’t report about the probability of the policy easing at the meeting, which is scheduled for 20-21 September.

Some experts pay attention that the governor of the Bank of Japan began to talk about the price of stimulation measures for the first time. However, he challenged the point of view that the incentives of the regulator would soon reach their limits.

“Those who believed Kuroda can find his speech to be frustrating as he emphasizes only the benefits of mitigation,” – said Makoto Noji of SMBC Nikko Securities.

There is a recovery of the yen against the euro. The euro has fallen to 115.42 yen relatively a month high of 116.37 yen, which was reached on Friday. The euro against the dollar has not changed much. It is being traded at around $ 1.1147.

The pound sterling has risen against the US dollar by 0.14 percent – up to $ 1.3324, exceeding a maximum of $ 1.3376 for the last 7 weeks.

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