“The Group of 20 key nations (G20) is very likely to say that many currencies have moved particularly this year with increased volatility, reaffirming the exchange rate commitment in the president’s summary,” Japanese Finance Minister Shunichi Suzuki said on Friday.
Speaking from Washington DC, Japan’s Suzuki also commented that Indonesia’s G20 president will most likely publish a summary of the meeting’s discussions at a later date.
It should be noted that an official of the Department of Finance (MOF) also spoke on the occasion stated in Washington DC and discussed that there will be times when we will reveal, or not reveal, if we intervene, when asked if the jump of the yen was opposed. The rise of the dollar today was due to intervention.
There was no discussion at the G7 about coordinated responses to market volatility.
He wants to take appropriate action against exchange rate volatility when asked whether Japan could interfere with the yen.
This time he held a bilateral meeting with the U. S. Secretary of the Treasury. U. S. S. Yellen Yellen
The United States was transparent about Japan’s currency intervention last month.
The otherwise unimportant news caught the attention of USD/JPY investors when the yen pair reached its highest point since 1998 last day, raising expectations of Japanese intervention.
Also read: The Forex Market Today: Dramatic Change After US InflationU. S. Exceeded expectations
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EUR/USD remains defensive around 0. 9950 after combined German retail sales failed to impress. The U. S. dollar is regaining bullish traction amid higher Treasury yields and cautious market sentiment. All eyes remain on initial knowledge of GDP and inflation for the euro area.
GBP/USD shows small losses around 1. 1600 in the early hours of European trading. The U. S. dollar is experiencing a new call as investors become cautious, with a critical week for the Fed and BOE ahead. Market confidence in the new UK government could be offering the couple.
The value of gold falls for the third consecutive day after reversing since 21-DMA. U. S. inflation figures Friday’s U. S. earnings boost Fed bets, but indexes for December’s move will be for XAU/USD buyers.
The value of LUNA Classic has been at the mercy of distributors for some time, but that replaced it on October 30. As buyers grew, LUNC exploded, but the profits were canceled out.
Fed rate meeting: There are unlikely to be too many surprises this week when the Federal Reserve is expected to raise the federal funds rate to 75 bps, following 3 similar moves in June, July and September.
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