On Friday (Oct 28), the sub-session, / low recovered to trade at 146.91, up 0.31%.
Recent comments by Fumio Kishida, Japan’s prime minister, make it seem unlikely that the government will apply political pressure to adjust its policy to stem the yen‘s decline.
The BOJ is likely to maintain its current stance, citing limited service sector inflation and wage increases, as well as continued government support for the central bank‘s accommodative policy despite the depreciation of the yen.
The Japanese government may spend more than 29 trillion yen to support the economy.
So Fumio Kishida, Japan’s prime minister, met his finance minister, Junichi Suzuki, on October 27th, and initially agreed on more than 29 trillion yen.
Details of a new package of economic support measures are expected to be formally announced on October 28.
The US dollar was little lower against the yen at the start of the Asia-Pacific session, after strengthening in the previous session, spurred by positive US data, but not enough to stop, although the gains were small.
