Investing.com - The yen held steady on Tuesday after central
bank policy meeting minutes from last month showed a bit more
agreement on the trend of price gains long-term.
USD/JPY changed hands at 124.29, up 0.01%.
The Bank of Japan board was largely in agreement that prices
will rise in the longer term, though one member said it would show
up moderately in consumer inflation, according to minutes of the
June monetary policy meeting released on Tuesday.
However, other members said the impact of the quantitative
easing to buy ¥80 trillion of mostly government bonds annually has
had a big impact on the economy and higher prices are spreading and
are also driven by higher wages.
Board member Takahide Kiuchi has been the lone dissenter in
recent reviews by the nine-member board, calling for the easing
program to be scaled back to ¥45 trillion.
Later, the BoJ will release a speech by Governor Haruhiko Kuroda
at the Amartya Sen Lecture in Bangkok hosted by Cambridge Society
of Thailand at
2215 (1315 GMT).
In Australia, the RBA minutes are due at 1130 Sydney time (0130
GMT). The RBA left the cash rate unchanged at 2.0% at the meeting
and issued a statement
similar to June, reiterating the outlook that its future monetary
policy moves will be influenced by incoming data and financial
AUD/USD traded at 0.7372, flat.
The U.S. dollar index, which measures the greenback's strength
against a trade-weighted basket of six major currencies, was down
0.06% at 98.12.
Overnight, the dollar remained at three-month highs against a
basket of other major currencies in quiet trade on Monday, as
mounting expectations for a U.S. rate hike in the near future
continued to lend broad support to the greenback.
Demand for the dollar remained supported after upbeat data on
Friday fuelled further expectations for a U.S. rate hike in the
Data on Friday showed that the U.S. consumer price index rose
0.3% in June, while consumer prices ticked up by 0.1% last month on
a yearly basis.
A separate report showed that U.S. housing starts rose 9.8% to
1.174 million units in June, compared to expectations for an
increase of 6.2%.
U.S. building permits rose 7.4% to 1.343 million units last
month, confounding expectations for a 11.8% drop.
The data came after Federal Reserve Chair Janet Yellen said, in
testimony before the House Financial Services committee, that the
Fed is likely to raise rates "at some point this year." She added
that the U.S. labor market healthier but "still some slack."
In a decree Saturday, the Greek government kept the daily cash
withdrawal limit at €60 but added a weekly limit of €420.
The decree came on the same day as Greece's coalition government
swore in its new, reshuffled cabinet. Five prominent dissidents
from the Syriza party, the senior coalition party, were
On Friday, German lawmakers voted in favour of opening
discussions on Greece's third bailout and the European Union
decided to release a short-term loan of €7.16 billion to help
Greece pay back a loan due Monday to the European Central Bank.
The Greek Parliament was scheduled to vote on further austerity
measures on Wednesday.
offers an extensive set of professional tools for the financial
Read more News on Investing.com and download the new
for Android and iOS!