USDJPY stopped falling on Wednesday; the instrument is trying to reach stability.
The Japanese Yen has been getting stronger against the USD starting December 17th with slight consolidations. Yesterday, the pair reached the lowest levels since August 21st due to its “being-a-safe-haven-asset” status, but this declined stopped today. Investors seems to have decided that there were too many sales, although fundamental news is still in favor of the Yen. The current quote for USDJPY is 110.46.
The Government Shutdown in the USA continues, that’s why most of market players are expected to be neutral and cautious. Last time, it took the Congress 69 hours to sign all necessary documents, but the current shutdown may last longer due to Christmas holidays.
In the morning, the Governor of the Bank of Japan Haruhiko Kuroda spoke. Contents of his speech were quite standard: he said that the regulator had to wait for the inflation to reach 2%. Apart from this, Kuroda said it would be necessary to focus on solving problems caused by the BoJ’s ultra-soft monetary policy. Probably, he meant the national debt, which was interesting, because the Japanese government always did its best to avoid this topic. Kuroda said he was sure that the regulator’s monetary policy might have provided more support to the country’s economy if the national debt issue had been solved.
Orgin: RoboForex
