The dynamic sell-off on the Japanese yen continues, and the USDJPY pair has jumped to levels not seen since 2002. While the broad weakening of the currency is due to policy divergences between the BOJ and the Fed, the move can be linked to the Japanese Finance Minister's statement that sharp changes in exchange rates are "undesirable". In the morning hours today, BoJ Governor Mr. Haruhiko Kuroda reiterated his willingness to maintain an extremely loose monetary policy. Kuroda also added that the BoJ must maintain monetary support for an economy that has not yet recovered from the pandemic.
USD/JPY pair chart, MN interval. The yen continues the wave of selling, and today's statements of representatives of the Japanese establishment supported the bearish relations. The pair jumped today to levels not seen since 2002, and as long as the BoJ's monetary policy does not take a firmer tone, the currency of the Land of the Cherry Blossom may be under strong pressure. Source: xStation 5
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