{"id":36200,"date":"2022-10-13T07:49:00","date_gmt":"2022-10-13T06:49:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=36200"},"modified":"2022-10-13T19:31:29","modified_gmt":"2022-10-13T18:31:29","slug":"morning-brief-japanese-yen-drop-continues","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/morning-brief-japanese-yen-drop-continues\/","title":{"rendered":"Morning Brief – Japanese yen drop continues"},"content":{"rendered":"\t\t
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The Japanese yen currency has continued to lose value during the US trading session with the USDJPY<\/a> pair moving around the 147.00 benchmark level before starting to back off somewhat.<\/p>

So far, the rest of the foreign exchange market has been pretty muted compared to the moves in the Japanese yen, which continues to lose ground against the US dollar and other currencies.<\/p>

Several Japanese officials have out on the wires this morning trying to talk down the rise in the yen. Additionally, the yen continued to weaken today despite some pretty high inflation data.<\/p>

Japanese wholesale level inflation, which is the PPI index for September surprised to the upside earlier today. Higher commodity prices and the weak yen impacted inflation.<\/p>

The flow-through from high PPI to CPI has been limited in Japan but the data today looks like it will continue to help Japanese CPI inflation at recent highs.<\/p>

The Bank of Japan has been sticking to its view that the CPI inflation levels are not sustainable, and the Bank wants to see wage gains to alter their view. Therefore, the yen is not reacting.<\/p>

Japan finance minister Suzuki said earlier this that \u201cexcess FX volatility and disorderly moves can hurt economy and financial stability earlier today\u201d. Intervention is looming.<\/p>

He also noted that \u201cG20 Japan is deeply worried about recent sharp forex volatility\u201d while he explained that the recent yen intervention was prompted by excess moves by speculators<\/p>

More intervention talks as he said that the bank \u201ccannot tolerate excess moves by speculators\u201d and we’ll respond appropriately to excess FX volatility\u201d.<\/p>

Japanese chief cabinet secretary Matsuno came out with further weak verbal intervention talk when he said that he is \u201cClosely watching FX moves with a strong sense of urgency\u201d.<\/p>

Overall, it does seem that Bank of Japan could be preparing to intervene. I think if the US CPI report is strong today and the US dollar<\/a> rises they may step at some point when the Japanese session gets underway on Friday.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

The Japanese yen currency has continued to lose value during the US trading session with the USDJPY pair moving around the 147.00 benchmark level before starting to back off somewhat. So far, the rest of the foreign exchange market has been pretty muted compared to the moves in the Japanese yen, which continues to lose […]<\/p>\n","protected":false},"author":4,"featured_media":22070,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[80,101,67,22,270],"yoast_head":"\nMorning Brief - Japanese yen drop continues - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/morning-brief-japanese-yen-drop-continues\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Morning Brief - Japanese yen drop continues Morning Brief - Japanese yen drop continues\" \/>\n<meta property=\"og:description\" content=\"The Japanese yen currency has continued to lose value during the US trading session with the USDJPY pair moving around the 147.00 benchmark level before starting to back-off somewhat.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/morning-brief-japanese-yen-drop-continues\/\" \/>\n<meta property=\"og:site_name\" content=\"Youtrading UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/YouTradingEnglish\/\" \/>\n<meta property=\"article:published_time\" content=\"2022-10-13T06:49:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-10-13T18:31:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2022\/02\/GettyImages-1318998181.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"509\" \/>\n\t<meta property=\"og:image:height\" content=\"314\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nathan Batchelor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Morning Brief - 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