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Japanese Yen Awaits Kuroda, Intervention Threat, Key US Inflation Data After Dovish BoJ
The Japanese Yen marked time after the Bank of Japan kept all the usual policy settings unchanged in October. This left the policy balance rate and 10-year government bond yield target at -0.1% and 0.0%, respectively. Traders were probably keener to hear about the currency itself given efforts from the government to intervene in foreign exchange markets to prop up the currency. To that extent, the BoJ offered little. It mentioned that they need to watch FX and its impact on the economy. What is increasingly interesting is that the BoJ revised higher fiscal-year 2022 core CPI projections to 2.9% from 2.3% previously. ... (full story)