#USDJPY soars to 20-year high as yen sell-off intensifies.
The Japanese yen declined to a 20-year low against the US dollar as concerns about the Bank of Japan’s policies remained. Unlike other central banks, the BOJ has insisted that it will leave interest rates unchanged and continue with its asset purchases program.
The bank has also hinted that it will even offer more stimulus if the ongoing trend of the Japanese economy continues.
Recent data shows that the country’s economy is slowing down as energy costs rise and the ongoing supply chain challenges affect the country’s automobile sector.
#forex #trading
The Japanese yen declined to a 20-year low against the US dollar as concerns about the Bank of Japan’s policies remained. Unlike other central banks, the BOJ has insisted that it will leave interest rates unchanged and continue with its asset purchases program.
The bank has also hinted that it will even offer more stimulus if the ongoing trend of the Japanese economy continues.
Recent data shows that the country’s economy is slowing down as energy costs rise and the ongoing supply chain challenges affect the country’s automobile sector.
#forex #trading