Surging Yen and Yuan in Spotlight ahead of FOMC Minutes and Canada's CPI - Action Forex
Japanese Yen's rally continued in today's Asian session, breaking through 148 mark against Dollar. This rise raises questions about the reaction of Japanese Finance Minister Shunichi Suzuki, particularly in light of his previous comments during Yen's decline this year. Suzuki had described the decline as "one-sided" and driven by "speculations." The current volatility, contrasting the steady depreciation since August, could be seen as "excessive," but it remains to be seen if Suzuki will comment similarly on this rapid ascent.
Japanese Yen's rally continued in today's Asian session, breaking through 148 mark against Dollar. This rise raises questions about the reaction of Japanese Finance Minister Shunichi Suzuki, particularly in light of his previous comments during Yen's decline this year. Suzuki had described the decline as "one-sided" and driven by "speculations." The current volatility, contrasting the steady depreciation since August, could be seen as "excessive," but it remains to be seen if Suzuki will comment similarly on this rapid ascent.
