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25 Nov 2013
Flash: USD/JPY close to annual high - BTMU
Lee Hardman, FX Analyst at the Bank of Tokyo Mitsubishi UFJ notes that the yen has weakened further in the Asian trading session with USD/JPY and the Nikkei 225 equity index both rising to within touching distance of their annual highs of 103.74 and 15,942.60 respectively recorded back in May.
Key Quotes
“The yen’s weakening trend has resumed since the middle of November. BoJ Governor Kuroda has speaking again overnight at a forum and reiterated that the BoJ’s commitment to their 2.0% inflation target is “very strong”.”
“He also noted that there is a still a way to go to meet the “very ambitious” 2.0% inflation target, while expressing a readiness to adjust policy if needed to meet that target.”
Key Quotes
“The yen’s weakening trend has resumed since the middle of November. BoJ Governor Kuroda has speaking again overnight at a forum and reiterated that the BoJ’s commitment to their 2.0% inflation target is “very strong”.”
“He also noted that there is a still a way to go to meet the “very ambitious” 2.0% inflation target, while expressing a readiness to adjust policy if needed to meet that target.”