The Yet slightly retreated. Overview for 08.10.2020

USDJPY is slowly rising on Thursday; markets are evaluating the risks.

On Thursday afternoon, the Japanese Yen is slightly retreating against the USD in response to the short-term improvement of the external background. The current quote for the instrument is 105.98.

Haruhiko Kuroda, the Governor of the Bank of Japan, believes that the Japanese economy is slowly but steadily recovering from the crisis triggered by the coronavirus. During the meeting of the regulator’s members, Kuroda said that the state of the overall economy was considered as complicated but there were signs of improvements. The key positive factor lies in the resumption of economic activities. The recovery speed is rather slow but the country’s Government and the BoJ are ready to do their best to support the economy if necessary. 

The statistics published in the morning showed that the Current Account in Japan was ¥2102.8B in August. 

The number is pretty good but the country’s economic capacity surely implies much better readings.