The USD/JPY pair recovers to 147.50 after a two-day consolidation in the European session on Tuesday. The asset rebounds as the Japanese Yen weakens after Bank of Japan (BoJ) voiced doubts over Japan’s economic outlook.
BoJ Ueda said in Tuesday’s Asian session that the economy is recovering on a few economic grounds as consumption remains weak. Also, Finance Minister Shunichi Suzuki said separately that Japan was not at a stage where it could declare a victory over deflation. The commentary from BoJ Ueda and FM Suzuki has dampened market expectations for the BoJ exiting the negative rates.
BoJ Ueda said in Tuesday’s Asian session that the economy is recovering on a few economic grounds as consumption remains weak. Also, Finance Minister Shunichi Suzuki said separately that Japan was not at a stage where it could declare a victory over deflation. The commentary from BoJ Ueda and FM Suzuki has dampened market expectations for the BoJ exiting the negative rates.
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