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- USD/JPY: A weak yen seems fundamentally justified – Commerzbank
USD/JPY: A weak yen seems fundamentally justified – Commerzbank
USD/JPY prints the first daily loss in 11 days. The weakness of the Japanese yen does indeed have fundamental reasons, in the opinion of economists at Commerzbank.
Bank of Japan is sticking to its ultra-expansionary monetary policy
“While all other central banks are tightening their monetary policies, the BoJ is sticking to its ultra-expansionary monetary policy – despite the fact that inflation has risen recently even in Japan. Not to the same extent as in the US or the eurozone, but inflation in Japan has nonetheless risen above the inflation target (2%).”
“Short-term price pressure is not going to ease for now, the weak yen is contributing its share. Until the BoJ’s monetary policy and approach changes, a weak yen does indeed seem fundamentally justified.”
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