EURJPY: Latest information on market trends in the Asian session
There wasn't much news of note on the day, except for some news regarding the energy market.
Qatar has reportedly suspended LNG transport through the Bab el-Mandeb Strait (Suez Canal). Houthis fire cruise missile at US Navy ship
Oil prices have risen, but not by a large amount
Political news:
William Lai was elected president of Taiwan in Saturday's election, despite the Democratic Progressive Party (DPP) losing a majority of seats in parliament. Senate Democratic Leader Schumer said Congressional leadership approved the temporary funding measure.
Forex market:
The People's Bank of China this month kept its medium-term financing (MLF) interest rate unchanged at 2.5%, despite widespread (but conflicting) expectations that it would cut it by 10 basis points. . This comes despite China's continued deflation and reflects the People's Bank of China's concerns that a weaker yuan could lead to capital outflows. The dollar/yen exchange rate rose during the session, weighing on the yen as the two-year Japanese government bond yield fell below zero. The US dollar has weakened against the euro, pound and Canadian dollar. The Australian dollar and New Zealand dollar underperformed. Offshore yuan gains during session
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