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USD/JPY on a Rapid Ascend. The Japanese Yen Faces Depreciation Pressure. The current USD/JPY exchange rate stands at 141.20.

The interest rate differential between the Bank of Japan and the US Federal Reserve System, though not escalating at the same pace as before, continues to expose the JPY to vulnerabilities.

A majority of economists surveyed by Reuters anticipate that the Japanese government and the Central Bank will take action to halt the yen's decline once the dollar reaches 145.00. Tensions are mounting ahead of the Bank of Japan's upcoming meeting scheduled for Friday.

Approximately 96% of respondents are convinced that the BoJ will maintain the current structure of its monetary policy for now. However, around half of them believe that minor adjustments to the accommodative program, including potential modifications to the yield curve scheme (YCC), may be implemented in either July or September.

Many speculate that BoJ intervention will commence when the dollar reaches the 145.00 yen threshold. Nonetheless, concerns arise regarding how authorities plan to support manufacturers who face challenges due to the weakening of the national currency.

The post JPY Faces Intense Pressure: Overview for June 15, 2023 appeared first at R Blog - RoboForex.

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By: Anna Rostova
Title: JPY Faces Intense Pressure: Overview for June 15, 2023
Sourced From: blog.roboforex.com/blog/2023/06/15/jpy-faces-intense-pressure-overview-for-june-15-2023/
Published Date: Thu, 15 Jun 2023 08:47:26 +0000

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