By: DailyForex.com
In asian trade, the dollar remained mainly to the upside and is poised to register another gain for the week. The euro was under strong pressure, however, after Mario Draghi, president of the European Central Bank caused uncertainty in the markets in regard to the time of reduction of the quantitative easing. Draghi said that the ECB is still waiting for an expected increase in the inflation target, but that such an increase probably would come only with a political ultra-flexible. Currently, the asset-purchase program of the ECB has a value of about 1.7 billion dollars. Analysts expect to have more discussions at the next ECB meeting in December, when it will provide forecasts more complete for growth and inflation.
As reported at 10:05 am (JST) in Tokyo, the USD/ JPY pair was trading at 104,1460 yen, up 0.18% of. The pair EUR/JPY rose 0.07% to 113,69 yen.
Earlier this week, the governor of the Bank of Japan, Haruhiko Kuroda, said the central bank would do whatever he deemed necessary to maintain momentum toward the goal of inflation. Analysts point out that the tone of the speech of the governor was more gentle than it has been in the past, suggesting that there is less urgency. It is expected that Kuroda held another press conference today and the players of the market will continue to closely monitor your language.
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