Free Forex Signals Today 22 12 2022

Yen rises, underpinned by BOJ policy tweak; dollar retreats

Today’s free signal is 

XAUUSD BUY 1817

SL 1805

TP 1835

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SINGAPORE (Reuters) – The yen firmed on Thursday, returning towards a four-month peak against the dollar hit earlier in the week after the Bank of Japan’s surprise tweak to its bond yield control spurred bullish yen bets, while the dollar moved broadly lower.

The yen rose about 0.5% to 131.85 per dollar, after surging to a four-month high of 130.58 on Tuesday in the aftermath of the BOJ’s decision to allow the 10-year bond yield to move 50 basis points either side of its 0% target, wider than the previous 25 basis point band.

The greenback, which rose 0.6% against the yen in the previous session, had failed to meaningfully recoup the 3.8% slump that followed Tuesday’s news.

“It’s a case of what’s the price action on the yen? Do people want to try to keep pounding at (dollar/yen), having absorbed the shock of Tuesday?”

Both pairs were holding close to roughly three-month peaks hit on Tuesday.

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The Aussie climbed 0.66% to $0.6752, while the kiwi gained 0.26% to $0.6311.

The euro was last 0.31% higher at $1.0638. Against a basket of currencies, the U.S. dollar index fell 0.3% to 103.92.

“Confidence returned to markets as Christmas came early in the form of an unexpected and broad-based surge in U.S. consumer confidence,” said Vishnu Varathan, head of economics and strategy at Mizuho Bank.

Sterling rose 0.32% to $1.2123, partially reversing its 0.85% overnight fall.

British public borrowing unexpectedly jumped last month to its highest for any November on record, figures overnight showed, underscoring challenges for the economy.

“The borrowing figures are just a reminder of what a difficult position the UK is in, fiscally,” said Westpac’s Callow.

“In a world where risk sentiment is still very fragile, currencies whose countries have a twin deficit are at risk compared to others.”

In Asia, the Chinese offshore yuan was marginally higher at 6.9828 per dollar, although sentiment remains weighed down by the spread of COVID-19 across the country.

FX SIGNAL

China’s economy was badly hurt by its stringent COVID-related restrictions, but state media on Wednesday quoted the cabinet as saying that the country will seize the time window to implement policy measures to support the economy, aiming for an improvement in growth in early 2023.

Free Forex Signals Today 22 12 2022

Free Forex Signals Today 22 12 2022

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Free Forex Signals Today 22 12 2022