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The yen has been restored on Thursday. The markets are in anticipation of the Central Bank meeting

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The yen has been restored on Thursday. The markets are in anticipation of the Central Bank meeting

The yen has been restored on Thursday. The markets are in anticipation of the Central Bank meeting
September 15
10:30 2016

The yen has taken a strong position during the Asian session on Thursday as the investors were searching for a safe haven due to the weakening of the stock market. At the same time the basic currency pairs have been almost unchanged before the meeting of the Bank of Japan and the Federal Reserve next week.

On Thursday morning the US dollar has reached the level of 102.40 yen. The dollar has moved away from the high point of 103.35 yen, which it reached at night.

Mitul Kotecha from Barclays in Singapore said: “It is interesting that we see some risk aversion.”

“This has had some effect on the markets and against this background we see the strengthening of the yen.”

The yen has pulled back from the lows that were reached at night due to the expectations that the Bank of Japan will take drastic measures for mitigation. According to the sources, the Board of the Bank has not reached yet a consensus if it is necessary to divert rates into the negative zone at the next meeting on September 20-21 when the Central Bank completes a detailed analysis of its policy.

The Fed is also planning to hold a meeting on 20-21 September. The Fed officials gave conflicting comments and this has caused uncertainty regarding the monetary policy outlook.

The euro has slightly fallen to $ 1.1241 and, in addition, it has lost 0.1 percent against the yen, reaching 115.14.

The index of the US dollar has been fixed at 95.376.

A pound sterling has risen by 0.1 percent to $ 1.3243, moving away from the 2-week minimum point of $ 1.3139, which was reached at night while the investors were waiting for the Bank of England meeting on Thursday.

Probably, the Bank of England will not introduce new measures after the fall of interest rates to unprecedented lows last month and return to the program of buying up assets.

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