JPY: never been cheaper. Overview for 29.05.2023

The Japanese yen continues to decline against the US dollar. The current USDJPY quote is 140.60.

The JPY is on a new round of devaluation. This is because the Bank of Japan is maintaining an ultra-soft monetary policy. The contrast between the interest rates is particularly noticeable in comparison with the US Fed’s – market participants are discussing that the Fed’s June meeting might lead to a new increase in the cost of credit.

The strong US dollar continues to put pressure on the Japanese yen.

Such a global fall in the yen is, in fact, favourable for exporting companies, which are adding to the budget.

At the beginning of the week, the macroeconomic calendar will be empty, and the attention of the market will continue to be focused on international information.