The Yen is retreating. Overview for 26.12.2019
Some part of investors returned to the market on Thursday and made USDJPY grow quite quickly.
The Japanese Yen is falling against the USD on Thursday. the current quote for the instrument is 109.55.
There is still no important news on the market, but can it really be right after the celebration of Christmas? However, this is the reason why market players prefer the USD, which is considered a more stable currency.
A bit earlier, the Bank of Japan published the Monetary Policy Meeting Minutes. The document says that the regulator will have to extend its cooperation with the Japanese government regarding the country’s economic policy. It sounds reasonable and strategically correct, in case all participants of the process are willing to take control over inflation and economic growth.
The document also says that 7 members of the BoJ voted to keep the interest rate at -0.10%, while 2 were against it.
All policymakers shared the opinion that the impulse to reach economic stability could die out any minute due to the decline of growth rate of global economies. Most likely, trade wars have a significant influence on the export-oriented Japanese economy.
A lot of reports will be published by Japan tomorrow: the Unemployment Rate. the Retail Sales, the Industrial Production, the Tokyo Core CPI, and the BoJ Summary of Opinions.