DOW 30 Turbulent In The Wake Of Targets (TGT) Profit Warning, Japanese Yen Suffering From BoJ Monetary Easing
Aa
Share
Summary:
- Dow 30 closes just above breakeven after a day of volatility.
- BoJ continues monetary easing.
Read next: (AMZN) Amazon Stock Split Comes At A Bad Time
DOW 30 closes just above breakeven
On Tuesday the Dow Jones experienced a lot of volatility, the mixed investor sentiment comes in the wake of retail giant Target giving the market a profit warning, which renewed investor concerns about the economic outlook.
The Dow 30 is still in the green today as the index struggled to find a direction during Tuesday's trading session. The Dow closed just above breakeven on Tuesday.
DJIA Price Chart
Japanese Yen hits lows
The Bank of Japan (BoJ) announced that they have no plans to tighten monetary policy to fight rising inflation, instead they will be continuing with monetary easing. This move has seemingly encouraged bearish sentiment for the safe-haven currency.
The Governor indicated that the only way to fight the pressure the Japanese economy has been feeling from the income side in the wake of rising commodity prices is through monetary easing. This announcement put the USD/JPY currency pair almost at levels not seen since 1998.
Sources: finance.yahoo.com, poundsterlinglive.com
