JPY stands at the intervention levels. Overview for 25.03.2024

The Japanese yen remains weak against the US dollar. The current USDJPY exchange rate stands at 151.30.

The Bank of Japan board members have not come to a unanimous opinion concerning the inflation behaviour over the country. The viewpoints split. At the same time, inflation is rising gradually, nearing the 2% target level. This opens the potential for the Bank of Japan to finalise its stimulation policy at the nearest meeting.

According to the minutes of the winter BoJ’s meetings, confidence was rising among the voting members that the necessary conditions for terminating monetary stimulation were forming.

Currently, the yen remains near its longtime lows. Yet for now, the threat of currency interventions from the Japanese authorities is holding JPY back from a further decline.