FXON Market Analysis (December 22 to December 28)

In the foreign exchange market for the week that ended on December 28th, the sell-off of the yen, which originated from the Monetary Policy Meeting of the Bank of Japan (BOJ) late in the previous week, has halted. However, the market struggled to find direction as a limited number of traders participated due to the Christmas holidays.

FXON Market Analysis (December 15 to December 21)

The foreign exchange market for the week that ended on December 21st was sensitive to a series of announcements by central banks regarding their interest rates. The Bank of England (BOE) and the Federal Reserve Board (FRB) both lowered their rates. The European Central Bank (ECB), however, maintained its policy interest rate. In contrast, the Bank of Japan (BOJ) raised its interest rate. Comments by BOJ Governor Kazuo Ueda at the post-meeting press conference triggered a sell-off of the yen, which weakened against the dollar, the euro, and the pound.