Japanese Yen appreciated by 0.13 percent yesterday as markets indulge in year-end profit booking. In the recent BoJ Monetary Policy Meeting, the committee raised its assessment of the economy for the first time since May 2015, closing a turbulent year on a positive note, but stood pat on monetary policy.
BoJ maintained the 10-year JGB yield target around zero pct and said that Japan’s economy will continue to recover moderately as a trend. Moreover, the risk to Japan’s outlook from impact of US monetary policy on global markets is minimal. The BoJ governor Haruhiko Kuroda showed support for the recent yen weakness.
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