JPY: a step back. Overview for 11.01.2023

jpy:-a-step-back-overview-for-1101.2023

The Japanese yen has somewhat retreated against the US dollar, the current quote being 132.14.

Minor fluctuations of the rates are lawful because investors remain sensitive to liquidity that comes to the market out of the blue.

Factually, the JPY now has only two triggers: interventions of the BoJ and the behaviour of the USD.

Morning statistics from Japan demonstrated that leading indicator index in November dropped to 97.6 points from 98.6 points earlier. The quarterly report of the BoJ reflected rather noticeable optimism of households: the number of households that expect growth of prices the next year dropped to 85% in December from 85.7% in September.

Investors noticed a comment of a former BoJ representative, who said that the yen was not going to fall any deeper as interest rates in the US would be decreasing – someday, but not right now.

Source: Roboforex

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