Stronger Yen justified if new BoJ Governor tenders monetary policy reversal – Commerzbank USDJPY BOJ Banks
“JPY is defending the gains it made following the December meeting and continues to trade 6% stronger against the USD. I cannot imagine that this is solely due to the effect of 0.25% higher interestlong term. Instead, the risk that the BoJ will implement a less expansionary monetary policy in the future remains in place.”
“Reportedly, a number of possible successors will be presented to parliament on 10th February, with a first hearing of the candidates following the week after that. Yen investors are likely to focus on that next, so as to get a better idea of whether any hope of a monetary policy reversal is justified or not.”Information on these pages contains forward-looking statements that involve risks and uncertainties.
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