We’ve followed the political machinations in Japan as they work to fend off the Bank of Japan’s interest rate hike plans.
Reuters published this article late last week, ICYMI, and I updated it today.
Worth reading for a summary of Japan’s interest rate hike policy:
- Bank of Japan Governor Kazuo Ueda’s efforts to raise low borrowing costs face new challenges, as a rebounding yen and the new political leadership’s preference for loose monetary policy raise the hurdle to raising interest rates.
Yes. Combine this with very strong jobs data from the US on Friday and the USD/JPY pair rose above 149.00 in the early hours. The new “Mr. Yen attempts the initial verbal intervention:
- The JPY interventionist says he will monitor the forex market including speculative movement
This article was written by Eamonn Sheridan at www.forexlive.com.