The Yen is losing weight

September 9, 2015

The USD/JPY pair grows on Wednesday afternoon, despite the rather optimistic comments from the Bank of Japan. The Japanese Yen retreats for the third consecutive session today and it is gaining a downward momentum. Currently the USD/JPY pair is trading around 120.48.

This morning, a board member of the Bank of Japan Mr. Shirai said that his country's inflation growth has begun accelerating, and soon it will be noticeable in the key macroeconomic indicators. According to him, the now observed weakness of inflationary expectations among households in Japan will be temporary. The official believes that Japanese companies will soon celebrate the rise in selling prices, and this is also good for the global inflation outlook.

Yes, the Bank of Japan actually beat a multi-year deflation, albeit at the cost of huge financial injections into the economy of Japan. While the cash flows to certain goals, there is no need to worry about the weakening of inflation. The only question is how the BoJ intends to further maintain its consumer price index, when it becomes clear that it is time to finish with ingections. Parallel to this stimulation the national debt of Japan is growing. This issue is still in the shadows, but it can escalate at any time.

According to statistics released today, the number of orders for equipment in August, according to preliminary estimates, fell by 16.5% y/y. The index of consumer confidence in the last month amounted to only 41.7 points.
 
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