SINGAPORE : The dollar extended its rally on Monday after a strong U.S. jobs report suggested the Federal Reserve could stay hawkish for longer, while the yen was hit by news the Bank of Japan's Deputy Governor Masayoshi Amamiya was being sounded out to be the next governor. The Nikkei newspaper repor
SINGAPORE : The dollar extended its rally on Monday after a strong U.S. jobs report suggested the Federal Reserve could stay hawkish for longer, while the yen was hit by news the Bank of Japan's Deputy Governor Masayoshi Amamiya was being sounded out to be the next governor.
Tapas Strickland, head of market economics at National Australia Bank, said Amamiya dovish policy credentials are raising uncertainty about BOJ's eventual exit from its ultra-easy monetary stance. Amamiya played a key role in drafting Kuroda's asset-buying programme in 2013 and consistently called for keeping ultra-low interest rates. But he also said in July the BOJ must"always" think about the means of exiting ultra-loose monetary policy.
The Fed on Wednesday raised rates by 25 basis points and said it had turned a corner in the fight against inflation, leading investors to price in a more dovish path going forward.
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