The USD/JPY pair is becoming stable after getting weaker earlier; investors’ attitude to the USD is improving.
The Japanese Yen took a break against the USD. The demand for the Yen went up when the US Dollar fell due to the speech delivered by Janet Yellen, the Federal Reserve Chairwoman, and the Thanksgiving Day “effect”. So, right now the American currency is recovering. The current quote for the instrument is 111.24.
In his speech this morning, Haruhiko Kuroda, the Governor of the Bank of Japan, noticed that Asian economies were more resistant to stresses that others, and he believed that Asia would become the center of the global economic growth in the coming years. There is a deal of truth in what he said: Asian economies tend to mobilize very quickly and switch from external market to internal one without losing their expansion rate. ,
Kuroda also said that Asia was very interested in external bond markets, such as Latin America, because they allowed to invest surplus funds.
This week, Japan is scheduled to report on several important macroeconomic indicators, but only at the end of it. Until that, the Yen will be used by investors as a “safe haven” asset, because in the next couple of days the USD will attract a lot of attention due to the American statistics.
RoboForex Analytical Department