Yen in Focus as BOJ, Fed Rate Hikes Reshape Currency Markets 
RBI Uses $10 Billion Currency Swaps to Drain Excess Rupee Liquidity 
RBA Hikes Interest Rate to 4.60% as Inflation Risks Rise 
BOJ Raises Interest Rate to 31-Year High as Yen Weakens 
Fed’s Logan Signals 50 Basis Points More in Rate Hikes 
BlackRock’s Rick Rieder Favors Bonds Over Stocks as Treasury Yields Surge 
Fed’s Hammack Says More Data Needed Before Next Rate Move 
Dogecoin Liquidations Surge as DOGE Bulls Face Heavy Losses 
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Further easing from European Central Bank (ECB) is posing new bigger threat to Japanese economy as it would push the competitiveness of European products ahead of Japan.
European Central Bank (ECB) is taking a more aggressive stance while Bank of Japan (BOJ) is shying away from further policy easing. That puts Euro in clearly weaker spot against Yen.
Further erosion of Yen's competitive advantage is likely to put Nikkei in tough spot, which is down close to 1% today and more than 6.5% in last three months. Nikkei CFD is currently trading at 18800.
Euro today has fallen to seven week low against Yen.
Technically speaking, Euro is in a downward channel against yen since June and price is now drifting lower from range high. Euro is currently trading at 133.1 against Yen, further drift down of about 200-250 pips in the very near term very much likely.
Focus is on monetary policies from FED on 28th and Bank of Japan on 30th.
