USDJPY is slowly growing for the second trading session in a row; market players don’t need “safe haven” assets.
The Japanese yen is falling against the USD. The current quote for the instrument is 115.36.
After a quite successful trading session on Monday, the Yen has been falling for the second consecutive day. The reason – investors aren’t interested in “safe haven” assets.
As the Bank of Japan mentioned earlier today, the country’s financial system was looking quite stable and the regulator was expecting the economy to continue its recovery. The BoJ believes that the coronavirus pandemic will become weaker soon and the regulator’s forecasts will come to fruition. The CPI in Japan is expected to boost due to the energy price surge. If everything works out, Japan will finally get a positive impulse in inflation it has been waiting for for a long time.
At the same time, the coronavirus factor is still considered a serious threat to the country’s economy. The BoJ said that it would tighten its monetary policy without hesitation if necessary. We remind you that the benchmark interest rate in Japan has been below zero for a long time.
Earlier today, Japan released the Economy Watchers Survey with improved estimations for all 47 prefectures. That’s very good news.