Bank of Japan: Yen at the mercy of global forces

From xm.com

The BoJ is expected to take no action when it concludes its meeting early on Thursday, despite an escalating covid outbreak and a deflationary storm hitting Japan. In fact, some reports suggest the BoJ is considering scaling back some of its ultra-aggressive policies, but admittedly, this is not the time to be discussing an exit. As for the yen, its fate hangs on how global bond yields and risk sentiment develop, so US stimulus news may be the most crucial element. In contrast to most nations, Japan never entered a full-on lockdown. The government can legally only advise people to stay at home and businesses to ... (full story)