Breaking: USD/JPY plummets to session lows to test 134 commitments Breaking
USD/JPY is dropping on the back of the government's nominee for the new central bank governor, Kazuo Ueda, speaking in parliament:. Japan's economy is recovering from the impact of the COVID-19 pandemic. But uncertainty regarding the economy, prices and markets is extremely high. Consumer inflation is at 4%, above the Bank of Japan's target, but the rise is driven mostly by rising import prices. The rise is not driven by strong demand.
''Japan's trend inflation is likely to rise gradually. But it will take some time for inflation to sustainably and stably achieve the BOJ's 2% target.'' If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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