Forex news for Asia trading Thursday 21 September, 2017

We had some movement in the USD/JPY despite the market waiting for the Bank of Japan announcement. USD/JPY had traded up strongly in the US after the FOMC but had retraced a little from its highs by (very) early Asia time. There was some concern about the UN discussion with Iran on the nuclear deal which weighed on USD/JPY early. This didn't last though, it traded back up to its US high during the Tokyo morning and then a little higher.

The fresh highs more or less coincided with the UN announcing nothing had changed on Iran. USD/JPY did drift back a few points as US Sec of State Tillerson once again expressed US concerns, but movement was minor on the flaccid complaints.

Movement elsewhere was limited, a few points lower for EUR, AUD and NZD against the USD but the extent of the moves were small only. Cable too, little changed.

The Bank of Japan announced an as expected decision, no change at all to policy. The Bank raised its assessment for public investment and reiterated the Japanese economy recovers moderately (see bullets above for details). There was one dissent - and he wanted to do more, saying YCC is not enough to get the CPI to target (dunno how that could be a dissent, its what the data is showing isn't it?).

Still to come: