JPMorgan still pessimistic about yen after BOJ change.
LONDON (Reuters) – JPMorgan Maintains Bearish View on Japanese Yen
In a research note, JPMorgan’s analysts stated that they are maintaining their “bearish view” on the Japanese yen following the Bank of Japan’s (BOJ) recent decision to make its key yield curve control policy more flexible. While acknowledging that the yen may experience some short-term gains, the analysts believe that it would be challenging for the BOJ to fundamentally change its accommodative stance unless there is a shift in the key determinants of inflation.
The yen experienced significant fluctuations against the dollar in response to the BOJ’s announcement, swinging between a daily loss of 1.2% and a daily gain of 1%. However, it ultimately ended the day unchanged at 139.35.
(Reporting by Marc Jones; Editing by Amanda Cooper)
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