Yen manages to remain stable. Overview for 02.11.2022
Japanese yen against the US dollar today is quite balanced. The current quote is 147.17.
Today the minutes of the last meeting of the Bank of Japan have been published. It says that the Japanese economy is speeding up, and in the long run the weakness of the yen will augment overseas economic activity.
Monetary politicians are decisive about maximally using the weakness of the JPY: for example, they plan to enhance incoming tourism and keep an eye on salaries increasing them gradually. It is admitted that the weak yen may compromise households and harm the daily life of small businesses.
The document also mentions that the BoJ will announce exit from soft credit and monetary policy as soon as the right moment comes.
There is a risk for the JPY: the head of the BoJ has underlined it several times that there is no need to increase rates or change policy. This means devaluation of the yen may activate any moment.
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