JPY's future is disturbing. Overview for 24.04.2023
The Japanese yen against the US dollar has put its decline on pause but looks unstable. The current quote is 134.13.
The block of statistics on Friday came out neutral. The base CCI in March grew 3.1% y/y as expected. Official inflation last month amounted to 3.2% y/y as forecast, while a month before it used to be 3.3%.
The situation with prices is what the new management of the BoJ will attend to in the nearest future. There are reasons to think that at the upcoming meeting at the end of April, the Bank of Japan will give signals for a soon change in the credit and monetary policy.
The yen barely reacts to the statistics if they are not about prices.
The prelim production PMI in March could have risen to 49.5 points. This is a good sign.
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