- Analytics
- News and Tools
- Market News
- USD/JPY: Yen weakness to remain in focus after BoJ update – MUFG
USD/JPY: Yen weakness to remain in focus after BoJ update – MUFG
The Yen has weakened further following the BoJ’s latest policy meeting. Economists at MUFG Bank analyze JPY outlook.
Lack of push back from BoJ leaves JPY vulnerable to further weakness
The BoJ left their policy settings unchanged. There has been a pick-up in speculation recently over the possibility of the BoJ bringing forward rate hike plans. However, the comments from Governor Ueda today appear to have been carefully crafted not to further encourage those expectations.
The lack of clarity over the timing of any further adjustment in policy seems to be a step back from his comments to the Yomiuri newspaper last week when he indicated that the BoJ could have enough information about wages to judge if they will continue to rise by year-end and talked about the possibility of raising rates.
It leaves the Yen vulnerable to further weakness in the near-term. However, the move higher in USD/JPY will continue to be dampened by the heightened risk of intervention from Japan to support the Yen.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
