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JPY Daily News
When Will the Bank of Japan Intervene on Behalf of the Yen?
Yesterday the yen found some relief from the appreciation the Japanese currency has experienced versus the dollar and the euro. But this should only be a temporary pause in the appreciation of the yen as the Bank of Japan inches closer to intervention in the foreign exchange markets.
The USD/JPY rose to 84.64, from an opening day price of 84.38. The EUR/JPY was also higher at 107.20, after opening yesterday's trading at 106.79.
The Bank of Japan (BOJ) continues to ramp up its rhetoric for intervention in the currency markets. Finance minister Yoshihiko Noda is beginning to lose his credibility in his attempts to talk the yen down. As the verbal intervention appears to be failing, the BOJ is inching closer to actual intervention in the market or other possible steps of a monetary policy easing which would be considered a step of last resort to weaken the yen.
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Print| # | Time | $€£¥ | Event | Per. | Prev. | Fore. | Act. | Imp. |
|---|---|---|---|---|---|---|---|---|
| 08/26 | ||||||||
| 00:30 | JPY |  Household Spending | y/y | 0.5% | 1.5% | 1.1% |  | |
| 00:30 | JPY | Tokyo Core CPI | y/y | -1.3% | -1.2% | 1.1% | | |
| 00:30 | JPY | National Core CPI | y/y | -1.0% | -1.1% | -1.1% |  | |
| 00:30 | JPY | Unemployment Rate | 5.3% | 5.3% | 5.2% | | ||
