Japanese Yen Higher As Ueda Nominated To Be BoJ Governor
13 Febrero 2023 - 9:47PM
RTTF2
The Japanese yen advanced against its major counterparts on
Tuesday, following the nomination of Kazuo Ueda as the next
governor of the Bank of Japan.
Ueda will replace Haruhiko Kuroda when his term ends in
April.
The government also nominated Ryozo Himino and Shinichi Uchida
as deputy governors.
Markets are pricing in a shift away from the current ultra-loose
monetary policy after the departure of Kuroda.
Data from the Cabinet Office showed that Japan's gross domestic
product expanded a seasonally adjusted 0.2 percent on quarter in
the fourth quarter of 2022.
That was shy of expectations for an increase of 0.6 percent
following the downwardly revised 0.3 percent contraction in the
third quarter (originally -0.2 percent).
The yen climbed to 143.58 against the franc and 131.78 against
the greenback, from its prior lows of 144.09 and 132.46,
respectively. The yen is seen finding resistance around 127.00
against the franc and 119.00 against the greenback.
The yen edged up to 141.51 against the euro and 160.10 against
the pound, from its early lows of 142.06 and 160.81, respectively.
The currency is poised to find resistance around 136.00 against the
euro and 154.00 against the pound.
The yen strengthened to 91.80 against the aussie, 98.82 against
the loonie and 83.58 against the kiwi, off its early lows of 92.26,
99.34 and 84.23, respectively. The currency is likely to find
resistance around 86.5 against the aussie, 94.00 against the loonie
and 80.00 against the kiwi.
Looking ahead, at 5.00 am ET, Eurostat is scheduled to release
euro area flash GDP estimate and employment data for the fourth
quarter.
U.S. CPI for January is scheduled for release in the New York
session.
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