After a short pause, the USD/JPY pair is back to growing.
The Japanese Yen is growing weak against the USD again. The current quote for the instrument is 113.07.
The demand for the Yen as a “safe haven” asset is falling. The USD regained its positions and the market’s attitude to it is once again good. No one knows for how long, but right it’s good.
Haruhiko Kuroda, the Governor of the Bank of Japan, delivered his speech this morning in Tokyo. According to his words, the growth of the country’s economy might be considered as stable, although the inflationary target of 2% is still far away.
There was something really interesting in his speech apart from conventional announcements. In Kuroda’s opinion, financial activities of Japanese companies aren’t getting better due to the QE program, which has been active for a long time. It offers a couple of choices: the companies either don’t trust the government and believe that the country’s economy may fall again if the QE program is closed, or they simply adapted to work in such conditions. However, both choices do not add any optimism to the economy.
Later in the evening, the USA will publish a lot of significant statistics. If investors find reasons to continue buying the USD, the USD/JPY pair may return to the levels it reached in July.
RoboForex Analytical Department