The Bank of Japan (BoJ) Governor Kazuo Ueda stated in his Semiannual Report on Currency and Monetary Control on Wednesday that, given the current perspective for economic activity and prices, it expects accommodative financial conditions to be maintained for the time being.
USD/JPY remains close to making a fresh multi-decade high despite official warnings last week that the Yen was too weak. The question lingers: will the BOJ take action beyond verbal intervention to strengthen the Yen?
The USD/JPY remains subdued during the North American session, trading at 151.28, almost flat, amid renewed fears of Japan’s intervening in the markets to cap the Japanese Yen (JPY) weakness.
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