The Bank of Japan continued to loosen, and the yen plummeted to its lowest level in 2023; The US dollar rose, while gold surged and retreated

The Bank of Japan continued to loosen, and the yen plummeted to its lowest level in 2023;

The US dollar rose, while gold surged and retreated

On Tuesday (October 31st), the Bank of Japan only made minor adjustments to its policy settings, disappointing investors and causing the yen to fall to its lowest level since the beginning of this year. Due to signs that the conflict between Israel and Hamas will still be contained, oil prices fell to their lowest point in two months on Tuesday. The risk aversion sentiment has also cooled, and gold prices continued to decline, falling below $2,000 per ounce.

Stock benchmark futures in Japan and Australia rose, while stock benchmark futures in Hong Kong fell. The S&P 500 index rebounded on the last day of October, but still recorded its worst monthly gain since the outbreak of the epidemic. The yield of 10-year US treasury bond bonds rose, and traders were indifferent to the latest economic data on the eve of the Federal Reserve's decision. Due to the weakening of the yen, the US dollar has stopped falling for two consecutive days.

The Bank of Japan relaxed its control on bond yields on Tuesday, which seems to have failed to meet investors' hopes for clearer signs of progress in policy tightening. The currency experienced its largest daily decline since April, bringing it to a new low so far this year and increasing the risk of government action.