The yen fell broadly on Tuesday


BOJ's expected ultra-easy policy keeps yen falling. Governor Ueda finds quantifying proximity to the 2% inflation target challenging.

EBC Forex Snapshot

23 Jan 2024

The yen fell broadly on Tuesday after the BOJ maintained its ultra-easy monetary settings as expected. Governor Kazuo Ueda said “it's hard to quantify how close” trend inflation was to the 2% target.

In a quarterly report on the outlook, the central bank cut its core consumer inflation forecast for the fiscal year beginning in Apr to 2.4% from 2.8% projected earlier.


China is weighing a massive rescue package to stabilise the local stock market, according to Bloomberg, pushing the Australian dollar higher. The PBOC has left the medium-term policy rate and LPR unchanged in Jan.

Citibank vs. HSBC Currency Pair Data Comparison

Citi (as of 15 Jan) HSBC (as of 23 Jan)

support resistance support resistance
EUR/USD 1.0848 1.1139 1.0817 1.0972
GBP/USD 1.2536 1.2848 1.2604 1.2796
USD/CHF 0.8333 0.8667 0.8527 0.8778
AUD/USD 0.6612 0.6900 0.6472 0.6719
USD/CAD 1.3093 1.3177 1.3328 1.3584
USD/JPY 140.59 146.49 143.69 150.64

The green numbers in the table indicate an increase in data, the red numbers indicate a decrease in data, and the black numbers indicate that the data remains unchanged.

Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.

The dollar tracked toward monthly gains on Thursday

The dollar tracked toward monthly gains on Thursday

The dollar edged higher before key inflation data, while the Swiss franc remains weakest among G10 currencies this month.

The dollar inched up on Wednesday

The dollar inched up on Wednesday

Despite US durable goods orders falling more than expected, the dollar edged up on Wednesday. The market mostly excludes a Fed rate cut before June.

​Gas prices suffer triple blow

​Gas prices suffer triple blow

U.S. natural gas prices hit a 3-year low due to a warm winter, excess inventory, and high production. European prices are back to pre-invasion levels.