 The forex markets have entered a quieter phase in Asian session, likely influenced by the holiday season, leading to reduced market activity. This calm follows an overnight sell-off of Dollar, driven by renewed risk-on sentiment as seen in the stock markets. Despite this shift, the Dollar has not experienced further selling pressure in Asia. Market participants are now closely monitoring key upcoming economic data from US, including PCE inflation and durable goods orders. However, the likelihood of a significant or sustained move in the greenback appears limited for the time being. Japanese Yen, which had been showing signs of recovery, is now seeing its momentum wane following release of Japan's inflation data, which came in line with market expectations. Minutes from BoJ's October meeting revealed a diversity of opinions among policymakers about the timing for exiting negative interest rates, with a notable emphasis on preparing market communications for such a transition. For the time being, Yen is expected to remain in a consolidation phase, with more range-bound trading likely in the near term.... |
