4 Global Market Updates- 17 January, 2023

 

In this article, we have covered the highlights of global market news about the USD/JPY, EUR/USD, USD/CAD and NZD/USD.

USD/JPY is stable below 129.00, rising slightly on minor USD gains.

Tuesday sees the USD/JPY pair edging upward for a second straight day after recovering overnight from its lowest point since late May. However, during the first part of the European session, spot prices declined a few ticks from the day high and held below the 129.00 level.

Speculation that the Bank of Japan (BoJ) may make another adjustment to the yield control policy at its meeting on Wednesday continues to strengthen the Japanese Yen. A milder risk tone also supports the JPY’s standing as a relative haven and helps to limit the upward potential for the USD/JPY pair. However, due to some continued US Dollar purchasing, the fall is still muted, at least temporarily.

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