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14 October 2022 | Other

Currency traders expect a short-term rise in strength and a long-term weakness of yen

USDJPY

The minimum interest rate policy keeps Japan's currency falling, but Bank of Japan executive Haruhiko Kuroda is not about to change it. Current cost inflation is unstable, so Kuroda repeated his promise to support the economy. In addition, price growth is expected to fall further below target next year.

According to him, considering the most appropriate monetary policy and interest rates for the economy and inflation, there is no need to increase the rate, it is not appropriate.

This is an indicator that a reversal of the yen's downtrend to the dollar is not expected, even if any movement slows down, resulting from the risk of further intervention.

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