JPY is balanced. Overview for 07.12.2022
The Japanese yen against the US dollar looks stable. The current quote is 137.36.
This morning, Japan issued some statistics that demonstrated an improvement in the leading indicator index in October to 99% from 97.5%. This is an averaged index containing 12 economic parameters that describes the state of the economy for the upcoming 3-6 months. On the whole, the situation has become a bit better.
One of the members of the Bank of Japan stated today that it was too early to correct the credit and monetary policy. They say that as soon as the prospects clear up, the Bank of Japan will discuss normalizing of the policy.
In this comment, an idea was also voiced that stable growth of inflation is quite dubious. It is not at all certain that in the financial 2023 and later on the CPI will rise over 2%.
These statements are very soft yet it can have an impact on the yen.
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