JPY remains stable – headline of the day. Overview for 18.04.2024

The Japanese yen stabilised against the US dollar on Thursday. The current USDJPY exchange rate stands at 154.26.

Yesterday, the US acknowledged some concern about the yen’s rapid weakening. High-ranking officials from Japan, South Korea, and the US convened and decided to consult on currency fluctuations in the future.

Nevertheless, the yen, paired with the US dollar, remains near its 34-year low due to differences in the monetary policies of the US Federal Reserve and the Bank of Japan.

Today, BoJ board member Asahi Noguchi noted that the pace of future monetary policy adjustments will be slow and may not match that of other large regulators in the current monetary policy cycle.

This month, the Bank of Japan concluded eight years of negative interest rates. However, it is still not ready to raise borrowing costs.