Bank of Japan faces challenge for further dovishness

In the Asian session on Tuesday (May 30), the US dollar fell against the yen, temporarily reporting 140.25, a decrease of 0.14%. The Bank of Japan will inject 1.98 trillion yen into the treasury; the capital adequacy ratio of the Bank of Japan is 9.81%, compared with 9.29% in the previous year.

The latest news from the Bank of Japan:

Japan’s unemployment rate fell to 2.6% in April, below expectations for 2.7% and the previous 2.8%, while the employment/applicant ratio remained around 1.32 for the month. Further dovishness by the Bank of Japan is being challenged against the backdrop of recent firmer inflation data from major Asian economies.