The Yen strengthened slightly. Overview on 04/27/2023
The Japanese yen against the US dollar has grown moderately. The current quote is 133.70.
Two days of rising for the JPY were interrupted, which is rather logical. On Friday, the currency will set medium-term prospects for itself.
That is, a meeting of the Bank of Japan is scheduled for Friday. There are lots of expectations concerning the results of the meeting. Firstly, this will be the first one for the new BoJ chairman. He used to be expected to continue with the accepted policy of the regulator. Secondly, however, the pressure on the regulator is way too strong, and not necessarily the BoJ will avoid changes. The interest rate will most likely remain at -1.10% per annum, but we are more interested in the comments of the regulator on its further steps. There might be some thoughts voiced about what to do with the tremendous public debt.
At the end of the week, Japan will issue the retail sales statistics for March, the unemployment rate report for the same month, industrial production statistics, and the base Tokyo inflation report.
The flow of statistics might slip from the market focus if the Bank of Japan turns out decisive enough to act.
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