ForexLive Asia-Pacific FX news wrap: USD/JPY drops to 154.00

• Bank of England Governor Bailey, other officials, appear in parliament committtee Tuesday
• FX option expiries for 19 November 10am New York cut
• SEK traders heads up – Riksbank First Deputy Governor Anna Breman speaks Tuesday
• Federal Reserve Bank of Kansas City President Jeffrey Schmid speaking Tuesday
• “BOJ to bid farewell to stimulus era, justify rate hikes in policy review”
• MUFG says Japan rate increases will accelerate, due to more inflation pressure
• China state planner says has ample room and tools to support economic recovery
• Japan finance minister Kato – will continue to take action on excessive FX moves
• Japanese Economic Revitalisation Minister Akazawa says crucial to boost pay
• More on US DoJ to ask judge to force Google to sell off Chrome
• PBOC sets USD/ CNY central rate at 7.1911 (vs. estimate at 7.2305)
• Bank of America says US stock mkt statistically expensive, raises 2025 price target anyway
• RBA minutes: Vigilant to upside inflation risks, policy must remain restrictive
• Chinese state media outlet says further RRR cuts are expected this year
• USD/JPY 160 level – potential BOJ intervention, rate hike
• Goldman Sachs forecasts Gold higher amid Trump tariffs risks
• ANZ forecast a 50bp interest cut from the RBNZ next week
• Bank of America with 3 reasons for GBP to strengthen in 2025
• Australian Consumer Confidence, weekly survey, comes in at 86.8 (prior 86.7)
• US DoJ to pressure Google to sell Chrome – break monopoly
• TD expect EUR/USD to barely avoid parity, forecast a drop to 1.01
• Forexlive Americas FX news wrap 18 Nov: USD corrects lower as yields reverse.Stocks mixed
• ICYMI – Citi base case is for no USD/JPY intervention before 160
• Impact of immigration restrictions on US economy and forecasts for EUR/USD and USD/CNY
• Mixed ending for US stocks to start the new trading week
• AUDUSD rebounds into a swing area resistance target. What next?
• Trade ideas thread – Tuesday, 19 November, insightful charts, technical analysis, ideas

USD/JPY
lost ground during Tokyo morning trade, falling to lows of 154.00 and
just under.

There
was little news nor data to point to as a catalyst. We did get plenty
of info from Japan including verbal intervention comments from
finance minister Kato. However, these came after the fall.

From
the Reserve Bank of Australia today we had minutes of the November
meeting. The Bank said it was vigilant to upside inflation risks, has
“minimal tolerance” for inflation above forecasts, and that
policy must remain restrictive. It did canvas what would be needed
for the Bank to consider easing, such as:

• weak
  consumption
• sharp
  deterioration in the labour market or forward-looking data

but
gave no indication this was imminent.

AUD
tracked a small range only, as did other major FX against the dollar
(all were lower against the yen, of course).

The
Philippine central bank signalled it’d be cutting interest rates
further this year and next.

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