Japanese Yen is under the pressure

According to the results of the Bank of Japan meeting and the subsequent press conference, the Central Bank of Japan left key interest rates unchanged, as did the incentive policy. A negative factor for the yen was the soft rhetoric of the BOJ Governor, aimed at preserving the stimulus measures and cuting the inflation forecast. The decline in the forecast for the consumer price index from 1.4% to 0.9 was the main negative factor for the sale of the yen.

As a result, the Japanese yen accelerated its decline across the market, despite the increase in risks and the increase in demand for safe assets. The USD/JPY pair is trading with a stronger strengthening on the weakness of the yen, but is limited by the growth of negative against the US dollar, which will slow down the strengthening of this pair, despite the weakness of the yen.

USD/JPY chart. Current price – 109.60

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Andre Green

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