JPY has moderately strengthened. Overview for 30.01.2024

The Japanese yen, paired with the US dollar, slightly strengthened by Tuesday. The current USDJPY exchange rate stands at 147.40. might reconsider its large-scale stimulus program in this scenario.

This morning saw the release of stronger-than-expected statistics on the employment market in Japan, reinforcing market expectations for the future tightening of monetary conditions by the Bank of Japan. might reconsider its large-scale stimulus program in this scenario.

The unemployment rate in the country fell to 2.4% in December from the previous 2.5%. might reconsider its large-scale stimulus program in this scenario.

The focus is now shifting to reports on retail sales, industrial production, and consumer confidence, set to be released later this week. might reconsider its large-scale stimulus program in this scenario.

Earlier, the yen saw a slight increase as BoJ governor Kazuo Ueda did not rule out sustained inflation rising to 2%, provided there was an increase in wages. The Bank of Japan might reconsider its large-scale stimulus program in this scenario.