- Markets Insider
The Japanese yen is diving.
The currency is down by 0.8% at 105.30 per dollar as of 1:06 p.m. ET.
The Bank of Japan will be meeting next week on October 31-November 1, and most analysts aren’t expecting any major shake-up.
“We hold out very little hope for any material improvement in the BoJ’s ‘operational credibility,'” wrote Hiromichi Shirakawa and Takashi Shiono of Credit Suisse in a note.
“Essentially we expect monetary policy to be left on hold next week despite a significant lowering of inflation projections.”
As for the rest of the world, here’s the scoreboard as of 1:14 p.m. ET:
- The Swedish krona is down by 2.0% at 9.0887 per dollar after the Riksbank, Sweden’s central bank, held rates at -0.50%, as economists were expecting. The bank’s governor Stefan Ingves said that the possibility of further easing has increased, and that the bank would not raise rates until 2018. The British pound is down by 0.6% at 1.2172 against the dollar. Earlier, the Office for National Statistics reported that the British economy grew by 0.5% in the third quarter, above expectations of 0.3%. “There is little evidence of a pronounced effect in the immediate aftermath of the [Brexit] vote,” ONS Chief Economist Joe Grice said in a statement on Thursday. (Although, it’s worth keeping in mind that Brexit itself has not actually happened yet.) The US dollar index is up by 0.3% ar 98.95 after pending home sales jumped despite a tight housing market, durable goods orders fell more than expected, and initial jobless claims fell less than expected. The Russian ruble is up by 0.1% at 62.8132 per dollar, while Brent crude oil, the international benchmark, is up by 1.6% at $50.78 per dollar. The Australian dollar is down by 0.8% at 0.7586 per dollar.