The Japanese Yen (JPY) is weak, lowering 0.5% against the US dollar (USD) and with a performance lower than that of all G10 currencies in a relatively quiet trade in general, they report the Heads of Strategy of Scotiabank, Shaun Osborne and Eric Theoret.
The BOJ highlights the importance of commercial conversations
“The weakness of the YEN is attributed to a speech of the member of the Boj Board, Tamura, where the hard line tone of the policy responsible was attenuated with a suggestion that the Central Bank would be unlikely to raise the rates while the commercial conversations were ongoing.”
“The speech followed the publication of a summary of opinions (minutes) of the relatively hard line that hinted at the possibility of an update of the inflation forecast and a possible increase in rates in July, depending on the result of commercial conversations with the US.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
