On Friday, there was a rise in selling of European banking shares due to the increasing uncertainty surrounding the ongoing crisis in the banking sect
On Friday, there was a rise in selling of European banking shares due to the increasing uncertainty surrounding the ongoing crisis in the banking sector which is not over yet. This caused a ripple effect across the markets and resulted in traders moving towards safer assets such as the Yen, which was further reinforced by a historic purchase of Japanese government bonds, after the Bank of Japan decided to maintain its ultra-loose monetary policy. Japan’s Chief Cabinet Secretary, Matsuno announced that they will allocate over 2 trillion JPY from reserves to counteract the negative impact of rising prices on the economy.
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