The Japanese media forecasts on the adjustments expected from the Bank of Japan at its next meeting coming up July 20 and July 21; the Central Bank fronts. The Bank might raise its quarterly price projection to its target level of 2% or above for the year ending next March from the 1.9% view it gave in April and lower its GDP projections. BoJ has stated severally, its belief that above-target CPI as transitory and that it is sworn to its loose monetary policy.
Earlier today, USD/JPY increased to the heights of 136:00 but dropped back to 135.60.it seems it wants to maintain the low status leaving Euro AUD, NZD, CAD, GBP at a few points against the above the USD.
Again, coronavirus has topped the headline, with Shanghai reporting numerous cases and this caused a temporary chaos, even in the stock market. Tokyo might be introducing some restrictions.
The prevailing thoughts on the minds of investors and traders is when will the USD rise again?
Remember yesterday, Euro today crashed by 0.7% against the US dollar to 1.0186 for the first time since December 2002.
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