On Thursday morning, USDJPY is trading upwards because of momentum; the Yen is close to the lowest levels of this year.
The Japanese Yen remains weak on Thursday morning, despite several attempts to strengthen against the USD. The current quote for the instrument is 109.76.
The statistics published this morning showed that the Bank Lending added more than expected in April, by 2.1% y/y against 1.9% y/y. In March, the reading was +2.0% y/y.
The Japanese Current Account in March 2018 was ¥3.122T, which is very good for the country’s economy. The components of the report show that the Import in March lost 0.9% y/y, while the Export expanded by 3.7% y/y.
The Minutes of the April meeting of the Bank of Japan say that the regulator refuses to make any predictions about when the inflation reaches the target of 2%. Earlier, the BoJ noticed that the Consumer Price Index might reached stability at 2% at the end of this year or the beginning of the next one and then the regulator would try to do its best to keep the indicator there. However, right now it seems that the Japanese Central Bank won’t pay attention to some particular date, but will just continue doing its job.
We’d like to remind you that the monetary policy of the Bank of Japan remained unchanged in April.
Orgin: RoboForex
