JAPANESE YEN (JPY/USD) : 12.08.2016
Japanese Yen depreciated by 0.45 percent yesterday owing to robust release of unemployment and import prices data form America which has booted the demand for US Dollar in turn keeping the Yen pressurized. Moreover, markets discounted the robust release of current account data from the nation. Current account surplus jumped to JPY 1.65 trillion, up from JPY 1.45 trillion a month earlier. This figure beat the forecast of JPY 1.60 trillion and marked a 3-month high.
OUTLOOK
Japanese yen is expected to trade negative as recent weakness in the DX will prompt traders to pace fresh bets.
BoJ Outlook
Inflation outlook for fiscal 2017 and 2018 are roughly unchanged from initial estimates.
Central bank to ease more to hit 2 percent inflation target if necessary.
BoJ to up dollar lending facility to y24 bln from y12 bln
BoJ to support firms, banks in securing dollar funds
Kuroda orders staff to examine negative rate impact
Strong uncertainty on timing for hitting 2 pct target mainly due to overseas risks.
Japanese Yen depreciated by 0.45 percent yesterday owing to robust release of unemployment and import prices data form America which has booted the demand for US Dollar in turn keeping the Yen pressurized. Moreover, markets discounted the robust release of current account data from the nation. Current account surplus jumped to JPY 1.65 trillion, up from JPY 1.45 trillion a month earlier. This figure beat the forecast of JPY 1.60 trillion and marked a 3-month high.
OUTLOOK
Japanese yen is expected to trade negative as recent weakness in the DX will prompt traders to pace fresh bets.
BoJ Outlook
Inflation outlook for fiscal 2017 and 2018 are roughly unchanged from initial estimates.
Central bank to ease more to hit 2 percent inflation target if necessary.
BoJ to up dollar lending facility to y24 bln from y12 bln
BoJ to support firms, banks in securing dollar funds
Kuroda orders staff to examine negative rate impact
Strong uncertainty on timing for hitting 2 pct target mainly due to overseas risks.