FXTM information and reviews
FXTM
95%
OctaFX information and reviews
OctaFX
94%
XM information and reviews
XM
93%
FXCC information and reviews
FXCC
92%
Libertex information and reviews
Libertex
91%
FxPro information and reviews
FxPro
90%

The Yen may drop


8 July 2022

USDJPY is preparing a new attack on the highs. The Japanese Yen is slowly falling against the USD. The current quote for the instrument is 136.16. The statistics published by Japan in the morning showed that the Leading Economic Index dropped to 101.4 points in May after being 102.8 points the month before. The Coincident Index went from 96.6 points in April to 95.5 points in May.  

The Japanese media reported today that the Bank of Japan might revise its GDP forecasts for 2022 downwards. Jiji experts believe that the regulator is also willing to revise its inflation forecast as well. The current target for inflation is 2% and it’s rather difficult to imagine that it might be high. However, everything is possible. 

The Bank of Japan is highly likely to refrain from influencing the Yen rate in any way. This year, the Japanese currency has already lost almost 15% against the “greenback” and the sky seems to be the limit. However, there is no point in interventions: as long as the regulator’s monetary policy remains ultrasoft, the rate difference may count against the Yen. It’s interesting that the “greenback” is not as aggressive against the Yen as against other traded currencies. Perhaps, it’s because devaluation of the Japanese currency started a long time ago and it’s not quite clear when it might end. If so, why hurry? 

#source

Share:


Related

The Yen recovered a bit
The Yen recovered a bit

USDJPY is falling on Thursday after interventions by the Bank of Japan. The Japanese Yen reached stability against the USD. The current quote for the instrument is 142.85. The Yen was weakening against the USD...

22 Sep 2022

Devaluation of yen will continue
Devaluation of yen will continue

The Japanese yen against the US dollar looks extremely weak. The current quote is 143.82. The morning statistics demonstrated that the Japanese GDP in Q2, 2022 grew by 0.9% q/q and 3.5% y/y...

9 Sep 2022

Dollar Soars Against the Yen; BOJ Intervention Eyed
Dollar Soars Against the Yen; BOJ Intervention Eyed

The U.S. dollar soared in early European trade Wednesday, rising to a fresh 24-year high against the Japanese yen as traders anticipate further aggressive monetary tightening...

7 Sep 2022

The Yen is recovering
The Yen is recovering

Despite the strong “greenback”, USDJPY has been slowly falling the entire week. The Japanese Yen is retreating a little bit against the USD on Friday...

26 Aug 2022

USD/JPY sticks to its consolidative theme
USD/JPY sticks to its consolidative theme

USD/JPY remains side-lined for the time being, note FX Strategists at UOB Group Lee Sue Ann and Quek Ser Leang. Yesterday, we highlighted that ‘upward momentum has slowed and USD is unlikely...

5 Aug 2022

USD/JPY pares intraday losses to multi-week low
USD/JPY pares intraday losses to multi-week low

USD/JPY stages a goodish bounce from a multi-week low touched earlier this Friday. Recovering US bond yields help revive the USD demand and offers support to the pair...

29 Jul 2022


HFM information and reviews
HFM
89%
IronFX information and reviews
IronFX
88%
FXCM information and reviews
FXCM
87%
NordFX information and reviews
NordFX
85%
Vantage information and reviews
Vantage
84%
FP Markets information and reviews
FP Markets
81%

© 2006-2022 Forex-Ratings.com

The usage of this website constitutes acceptance of the following legal information.
Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website (reviews, brokers' news, comments, analysis, quotes, forecasts or other information materials provided by Forex Ratings, as well as information provided by the partners), including graphical information about the forex companies, brokers and dealing desks, is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Forex Ratings shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about the forex companies. The entire responsibility for the contents rests with the commentators. Reprint of the materials is available only with the permission of the editorial staff.
We use cookies to improve your experience and to make your stay with us more comfortable. By using Forex-Ratings.com website you agree to the cookies policy.