USD/JPY drops down during the early Thursday’s trading. The yen pair ignores off in Japan while cheering the US dollar weakness. The US dollar index (DXY) drops to the fresh multi-month low of 89.51. The cautious optimism over the US coronavirus (COVID-19) stimulus and vaccine favor, coupled with the passage of the Brexit deal, exerts [...]
The USD/JPY recently declined after Japan’s industrial production data pleased yen buyers while the US dollar bears the burden of recent risk-on mood. Preliminary Industrial Production shrank 3.4% YoY versus -10.0% forecast and -3.0% prior. Though, the monthly data disappoints by flashing 0.0% figures compared to 4.0% market consensus and previous readouts. Further, Bank of [...]
The Bank of Japan (BOJ) left its monetary policy setting unchanged after concluding its two-day September monetary policy review meeting on Friday. The central bank left the key rate steady at -10bps while maintaining a 10yr JGB yield target at 0.00%. Japan’s government raised the FY2021 GDP estimate +4.0% from the previous forecast of +3.4% [...]
Japan announced a fresh $708 billion economic stimulus package on Tuesday to speed up the recovery from the country's deep coronavirus-driven slump, while targeting investment in new growth areas such as green and digital innovation. The new package will include about 40 trillion yen ($384.54 billion) in direct fiscal spending and initiatives targeted at reducing [...]
