The USD/JPY pair has descended to the lows last seen on September 9.
The Japanese yen is showing considerable strength against the US dollar, with the current USD/JPY exchange rate at 146.83.
The yen’s swift and robust performance has caught many off guard.
Despite a mixed fundamental outlook for the Japanese national currency with no clear positive factors, the Bank of Japan Policy Board delivered a clear message over the weekend: the regulator has not achieved an inflation growth rate justifiable by a rise in wages.
It’s likely that the Bank of Japan will persist with its ultra-soft monetary policy in the foreseeable future, keeping the interest rate at a negative -0.10% per annum.
While the Japanese economy is displaying a mild recovery from a weak Q3, economic growth might remain restrained as the year concludes.
Expect minimal changes in the credit and monetary policy structure until spring.
The post JPY Strengthens: Overview for December 04, 2023 appeared first at R Blog – RoboForex.