The Japanese yen is at the top of the list of winning currencies.. What is the reason?

The Japanese yen topped the list of the highest-profitable currencies in the currency market with the opening of the first American sessions on Monday, supported by the statements of the Governor of the Bank of Japan, Kazuo Ueda, this morning, which touched on the difficulty of saying that Japanese inflation will reach the Bank of Japan’s target of 2% in a sustainable manner, which raised expectations. Currency markets regarding the approaching date for turning very accommodative monetary policy in response to the continued rise in inflation far from the Bank of Japan’s target, which reflected positively on the movements of the Japanese yen against other major currencies.

At the same time, the Japanese yen received strong support during currency market transactions due to Kazuo Ueda’s confirmation that the Japanese economy is witnessing a moderate recovery, indicating the presence of some positive signs in wages and inflation, which strengthened the markets’ optimism regarding the economic conditions in Japan, which reflected positively on The Japanese yen in the currency market today.

In second place, the gains of commodity currencies, namely the Australian dollar and the New Zealand dollar, came in the major currency market, driven by the positive Chinese economic developments, which sparked optimism in the markets regarding the prospects for economic growth within both Australia and New Zealand, as they are major trading partners of the People’s Republic, which had a positive impact on the performance of… Commodity currencies in the currency market today.

In this regard, the People’s Bank of China said in its report issued today that the central bank will seek to enhance the stability of the monetary and financial environment, stressing its commitment to better support the recovery of domestic demand during the coming period, which may reflect positively on the Chinese economic recovery and then the economic growth of Australia and New Zealand. .

In last place, the pound sterling concluded the list of currencies with the highest profits during today’s currency market trading, supported by the statements of the Governor of the Bank of England, Andrew Bailey today, which indicated the difficulty of the process of reducing the Bank of England’s inflation rate to the central bank’s target of 2%, indicating that it is still one of It is too early to discuss whether the bank will lower interest rates at the present time, explaining that the tight monetary policy must be maintained for a period of time in order to achieve the inflation target, which has led to increased currency market expectations regarding keeping British interest rates high for a longer period, which has resulted in a rise in the pound sterling. Against its counterparts in other major currencies.

The Swiss franc has stabilized Clearly against the other seven major currencies at the opening of today’s session, in light of the anticipation of any economic developments that may affect the movements of the franc in subsequent trading.

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