The Bank of Japan's (BOJ) monetary stimulus policies, having gone unopposed by G-20, has seen the Yen nearing the 100 level for the first time in 4 years.
BOJ Governor, Haruhiko Kuroda, has said that he has been "emboldened" to persevere with a campaign that aims to defeat deflation. This saw the Yen slide earlier today against most major counterparts.
Kuroda had said that "Winning international understanding gives me more confidence to conduct monetary policy appropriately. We will continue our qualitative and quantitative easing for the next two years."
Kuroda had said that "Winning international understanding gives me more confidence to conduct monetary policy appropriately. We will continue our qualitative and quantitative easing for the next two years."
On Friday the BOJ is expected to deliver its next policy statement.
Earlier today the Yen dropped by 0.2% to 99.70 to the Dollar, having gone as far as 99.90. In all, it has dropped 5.5% since March. The Yen also slid 0.3% to 130.32 per Euro. The Euro, for its part, gained 0.1% to $1.3069.
At this time it seems that there are no real obstacles to the Yen continuing to weaken from here, and at some point it seems likely to break through the 100 level.
Earlier today the Yen dropped by 0.2% to 99.70 to the Dollar, having gone as far as 99.90. In all, it has dropped 5.5% since March. The Yen also slid 0.3% to 130.32 per Euro. The Euro, for its part, gained 0.1% to $1.3069.
At this time it seems that there are no real obstacles to the Yen continuing to weaken from here, and at some point it seems likely to break through the 100 level.
A 2009 high near 101.45 Yen could then be the next immediate target.
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