The Yen took a break. Overview for 02.12.2021
USDJPY is recovering after plummeting for a couple of trading sessions.
The Japanese Yen stopped its recovery against the USD. The current quote for the instrument is 113.10.
The statistics published earlier showed that the Manufacturing PMI in Japan was 54.5 points in November after being 54.2 points in October. This improvement is a good signal for the country’s economy.
In the morning, one of the BoJ’s representatives said that the monetary policy tightening in the US would eventually lead to the raise of long-term interest rates in Japan. In his opinion, long-term rates will increase when coronavirus-related uncertainty leaves the global market. It might help the economies to recover.
The Japanese corporate bond sector is believed to have recovered recently after restrictive growth during the pandemic.
The demand for the Yen may revive in the nearest future – investors are still feeling rather unsafe, because global risks didn’t go anywhere.
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