Citing Bank of Japan (BOJ) sources with knowledge of the matter, Reuters reports on Friday, the Japanese central bank is likely to maintain its view that the economy will gradually recover in 2H 2020 when it meets at its policy meeting later this month.
“The BOJ forecasts would reflect a growing conviction within the central bank that the world’s third-largest economy hit bottom in April or May.”
“There aren’t enough factors that would force the BOJ to alter its view the economy will emerge from the doldrums in the latter half of this year as the pandemic subsides.”
USD/JPY jumps to fresh 2-month tops, around 109.35 zone
“The USD/JPY pair broke out of its Asian session consolidation phase and jumped to fresh two-month tops, around the 109.35-40 region in the last hour.”