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Japanese Yen soars on prospect of BoJ QE exit

by | 5 Mar, 2018

The Japanese Yen has seen a solid upward trajectory in recent weeks

Shares in Toyota and Honda suffered today thanks to fears over what could happen to automakers in light of Trump’s action on aluminium and steel tariffs last week, with Japan’s Nikkei 225 falling 0.66 percent to close at 21,042.09, seeing its fourth straight session of losses. The TOPIX index ended down 0.79 percent, but the Japanese Yen continued its weekly advance higher against the Dollar, after the Bank of Japan’s Chief Haruhiko Kuroda hinted at a possible exit from its monetary easing programme.

Kuroda said the central bank would consider ending the strategy if it achieved its inflation target in 2019. Given his upbeat assessment of Japan’s economic health in January, a bullseye on inflation may come sooner rather than later. Today’s gains for the Yen made it the best performing G10 currency Monday.

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ALL RIGHTS RESERVED © INVSTR LTD. 2018

Risk Disclosure:
Invstr is a technology platform, not a registered broker-dealer or investment adviser. Invstr does not offer its own recommendations of any security or provide its own research to any user regarding any security transaction or order.
Please note, investing involves risk and investments may lose value. Past performance does not guarantee future results.
Brokerage services are provided by the following:
US-traded securities, including fractional trading, are provided to Invstr users by DriveWealth LLC, a regulated member of FINRA/SIPC. DriveWealth may not establish investment accounts to residents of certain jurisdictions. For more information, including disclaimers, risk and transaction fees click here.
India account traded securities are provided by SIC Stocks & Services PVT Ltd. SIC does not make any personal recommendations to buy, sell or otherwise deal in investments. Investors make their own investment decisions. The services and securities provided by SIC may not be suitable for all customers and, if you have any doubts, you should seek advice from an independent financial adviser. For more information and disclaimers, click here.

 

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