The Bank of Japan has raised expectations surrounding consumer spending for the first time in 10 months. The BOJ also expects the CPI to rise in line with that assessment, but exports are expected to fall. Japan is an economy reliant on exports, so despite any national consumption, export expectations may overshadow any optimism coming out of the BOJ surrounding consumer confidence.
So far the Yen remains weak against both the Dollar and Sterling. Elsewhere, the Queen will speak in Parliament to outline the UK Government’s plans for the future. Sterling continues to remain strong against the Yen as capital flows in search of better yields.
Yen continues to sell off but as the market extends it is possible to see some strength return to the Yen short term.
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