Русский
USD/JPY (current price: 100.98)
The Yen had another low volatility session, two days after the Bank of Japan’s controversial statement that set an inflation target above the previous goal of 2%, despite the recent failures by the central bank. The strength of the Yen continues to cause deflationary pressures in the country, and the negative rates applied by the BOJ are hurting the financial sector without meaningfully stimulating economic growth. The pair is holding slightly above the key 100 level since the aftermath of the BOJ meeting.
Our assessment: USD/JPY is still just higher than the Brexit-lows, thanks to last week’s correction in the Dollar, but a sustained risk-off period might drive the pair to new lows again.
