The Japanese yen is appreciating due to Japan's continued tight monetary policy, contrasting with central banks like the ECB adopting easing measures. The European Central Bank is expected to cut rates, which may negatively impact the euro and benefit the yen. Meanwhile, the Federal Reserve in the U.S. has kept rates unchanged, increasing the possibility of lower yields that favor the yen. Japanese officials' commitment to tight policies and rising inflation expectations may reinforce support for the yen against major currencies like the dollar and euro.
The Japanese yen continued to appreciate as Japan maintained a tighter monetary policy stance, contrasting with other central banks easing their policies.
The European Central Bank is expected to cut rates by 25 basis points, which could further support the yen as it benefits from a dovish ECB tone.
Japanese officials reaffirming a tightening outlook could lead to rising Japanese yields, providing additional support for the yen against the dollar and euro.
With Japan's core CPI rising year-on-year, strong inflation data may further strengthen the yen against other currencies.
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