 Yen fell broadly during Asian session today, reversing all of this week's earlier gains. Market sentiment has calmed somewhat despite the escalation in Russia's war in Ukraine, as there is no clear intensification toward a nuclear conflict. US Treasury yields have stabilized after yesterday's decline, and Gold's rebound has also stalled. Attention now turns to the upcoming UK CPI data. UK inflation is expected to rebound from 1.7% to 2.2% in October, while core CPI is projected to slow slightly but remain elevated at 3.1%. The British Retail Consortium, along with over 80 retail companies, has requested a meeting with Finance Minister Rachel Reeves, warning that last month's budget would result in higher prices, job losses, and reduced investment. BoE Governor Andrew Bailey has indicated that, given the uncertainty surrounding the impact of the Autumn budget, a gradual approach to monetary easing is needed. Persistent inflation is likely to keep BoE cautious about an inflation resurgence, leaning toward another pause at the December meeting.... |
