Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

USD/JPY Trajectory Remains Steady Despite BOJMeeting And MOF Data Release

EditorVenkatesh Jartarkar
Published 10/30/2023, 02:36 PM
© Reuters.
USD/JPY
-

The trajectory of the USD/JPY currency pair is expected to remain largely unchanged, despite key events in Japan this week. This includes the Bank of Japan's (BoJ) meeting and the Ministry of Finance's (MoF) data intervention release, according to Goldman Sachs.

The USD/JPY recently crossed the 150 threshold, a significant milestone that has drawn attention from market participants worldwide. The future course of the Japanese Yen (JPY) will be determined by how these participants scrutinize the developments following this week's events.

Goldman Sachs predicts that the BoJ may uphold its current policy. This comes amidst media speculations about a possible rise in the rate cap beyond 1%. The bank may potentially adjust its core Consumer Price Index (CPI) for fiscal years 2023 and 2024 in response to these speculations.

However, regardless of potential policy changes or an abrupt end to Yield Curve Control (YCC), Goldman Sachs deems major shifts in the USD/JPY trajectory as improbable. The firm's prediction suggests that while these developments may influence the JPY, they are unlikely to result in drastic alterations to its course against the US Dollar (USD).

Market participants will closely monitor these events and their potential impact on the JPY's future trajectory. The outcome of these developments could provide valuable insights into Japan's economic outlook and its implications for global currency markets.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.