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Home / Analytics / Forex analysis & forecasts / Forex Fundamental analysis / The Yen continues to retreat. Overview for 02.09.2016
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The Yen continues to retreat. Overview for 02.09.2016

The USD/JPY pair is rising on Friday morning after the Bank of Japan announced a possible expansion of the QE program

At the end of the trading week, the Japanese Yen is weakening in the pair with the US Dollar. Although the statistics published today was pretty good, it couldn’t beat the influenced of the BoJ’s comments. The current quote for the USD/JPY pair is 103.70.

During his speech today, Mr. Makoto Sakurai, Member of the Policy Board of the BoJ, said that there were a lot of space for expansion in the QE program implemented by the regulator. It might be additional decreases of interest rates, possible acquisitions of new bonds within the framework of the QE program, increase of the asset buyout. Right now, there is no special need to introduce any of the above-mentioned, but it might appear. In this light, it’s highly likely that the September meeting of the BoJ will be calm and quiet.

Thus, the BoJ continues to collect and analyze the information relating to the influence the negative interest rates have on the Japanese economy.

It’s quite interesting that major Central Banks worldwide are likely to wait until the September meeting of the Fed is over and the results are published, and only after that make any fiscal moves.

The statistics published this morning indicated that the CCI in Japan in August increased up to 42 points against the predicted number of 41.6 points. However, it‘s still much lower than the important psychological level of 50 points, which shows the difference between growth and decline of the indicator, but it’s nice to see the tendency for improvement.
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