ForexLive Asia-Pacific FX news wrap: Yen volatility again

• More from Japan Finance Minister Suzuki – analysing the impact of the strengthening yen
• BlackRock is wary on Chinese equities – measured policy support is not enough
• UBS says a Fed rate cut is ‘long overdue’, but a 50bp cut might be taken as panic
• Is the bond market going to strong arm the Fed into a 50bp cut?
• Waiting for the PBOC CNY reference rate setting? None today, China is on holidays.
• Japan finance minister Suzuki says rapid FX moves are undesirable
• Will the US retail sales report tip the scale to a 50bp Fed rate cut? The ranges to watch.
• Goldman Sachs once again on 3 reasons for their US$2700 gold forecast
• Australian weekly Consumer Confidence survey to an 8 week high @ 84.1
• More info on that Microsoft 10% dividend hike and new US$60bn buy back
• If the Fed does cut by 50bp it risks triggering growth worries, further yen carry unwind
• Scenarios for trading USD around the FOMC meeting
• Microsoft (MSFT) has announced a new US$60bn share repurchase program
• Blackrock says market pricing for deep Fed rate cuts “overdone”
• Bank of Japan meeting this week – preview (no rate change expected)
• Three US senators call for a 75bp Federal Reserve rate cut on Wedndesday
• Goldman Sachs forecasts S&P 500 to 6000, Fed rate cuts supporting
• Trade ideas thread – Tuesday, 17 September, insightful charts, technical analysis, ideas
• Dow closes at a new record. S&P closes less than 1% from record high
• Forexlive Americas FX news wrap: Empire Fed rises to the best since 2022

Yen
crosses were active again today. USD/JPY traded up to highs above
141.20, briefly, before dropping back to under 140.40. There was no
fresh news nor data to act as catalysts. We did get comments from
Japan’s finance minister Suzuki. The usual:

• Rapid
  fx moves undesirable
• Important
  for currencies to move a stable manner, reflecting fundamentals

and
such. Suzuki did add, however, that while the yen has strengthened
beyond 145 (ie. USD/JPY under 145) that Japanese firms maintained
healthy earnings and financial conditions.

Major
FX was otherwise subdued, traders seemingly on hold until the US retail lases and industrial production reports due later on Tuesday.

China
remained on holiday today. Markets there will reopen for trade on
Wednesday, Hong Kong will be closed on Wednesday.

This article was written by Eamonn Sheridan at www.forexlive.com.