The Japanese Yen Struggles as Japanese Officials Keep Discussing Its Weakness

USD/JPY

The Japanese Yen is closer to 24-year lows against the USD today, Tuesday, 14th September 2022, though most of its major international rivals enjoy a more forceful bounce. Also, many Japanese officials suggest that the currency’s weakness might have exceeded fundamental justification.

The differing views between the Federal Reserve and the Bank of Japan remain the key driver of events in this market. Japanese authorities have been forceful currency interventionists in the past, and markets are on alert for any return to this form.

The market awaits US Consumer Price Index data for August in the European afternoon. Core inflation is expected to have ticked upward to 6.1% from 5.9%, but the rate is expected to inch down, and there is hope that the worst of US inflation may be behind us though it is yet uncertain, and the Feds are determined to keep hiking rates.

It will be more aggressive than the BoJ in every imaginable case. A stronger-than-expected print would suggest a return to US dollar strength.

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