JPY goes on retreating. Overview for 11.04.2023
The Japanese yen is losing to the US dollar. The current quote is 133.50.
The March statistics of the Japanese CCI published yesterday demonstrated growth of the indicator to 33.9 points from 31.1 points earlier. This is a good signal that means that households are beginning to trust the policy of the Bank of Japan and its financial course. However, the indicator remains under the psychologically important level of 50 points that separates growth from falling. Hence, there are not as much reasons for optimism as we would like them.
The Eco Watchers Current Index in March saw an increase to 53.3 points from 52.0 earlier.
This week, the new head of the BoJ is taking office. The Ministry of Finance commented that it was counting on cooperation with the government in carrying out the monetary policy.
In fact, no changes in the policy are expected. Kazuo Ueda will be repeating the existing ultra-soft policy to the slightest detail. He is, indeed, not a pigeon but he is a strong economist and manager, which will let him be more flexible in making fiscal decisions.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is intended for our customers, and is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.