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The Yen recovered a bit


22 September 2022

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 yesterday but managed to reach stability this morning. The Japanese currency might be interesting for investors as a “safe haven” asset. The Bank of Japan had a meeting in the morning and decided to keep the rate unchanged at -0.10%, the same as expected. 

In the comments, the regulator said that the Japanese economy might recover faster when the pandemic and limited supplies were over. At the same time, the BoJ is expecting the core CPI to boost by the end of 2022 due to an energy and food price surge. The regulator said it was expecting inflation to continue rising. 

Among other important things: the BoJ decided to close the programme of financing that was introduced during the pandemic. Also, it looks like the regulator intervened in the foreign-exchange market to lower the pressure on the Yen. After announcing its readiness to intervene into currency trading, the BoJ is expected to make more moves. 

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