U.S. President Obama earlier called for a peaceful solution to the Syrian conflict. He went on to say that he saw "encouraging signs" of diplomacy which could end the confrontation over the Syrian regime's alleged use of chemical weapons. He has requested that Congress postpone a vote on a military strike.Talks of conciliation have been positive for risk. and the Yen could weaken further as a result.
Bank of Japan (BOJ) board member Koji Ishida, has also mentioned that the BOJ will make adjustments to policy as needed. He went on to say that it's vital for the Japanese government to maintain fiscal trust. The BOJ has estimated that its current-account balance, which is a measure of financial firms' deposits at the central bank, had risen to a record 91.4 trillion Yen today.
With the BOJ still leaving all options for a more aggressive monetary policy stance open, this gives further scope for the Yen to drop as against the Euro and the Dollar.
- It's only a report I intended to share. -
Per aspera ad astra
