Bank of Japan Moves Closer to Intereference
November 19, 2008
Exports are more important than the yen in currency tradingFor years, the Bank of Japan and other Japanese officials have made it clear that exporters are more important than the strength of the yen in currency trading. Indeed, the BOJ has been largely content with a weak yen in order to ensure that its exports remain competitive.
Now, though, the yen is appreciating at a rapid rate. While there are some thoughts that next year could see a decline in dollar/yen, there is still the question of the unwinding carry trade, risk aversion and flight to safety.
As a result, the Bank of Japan is seriously considering intervening to do what it can to slow the yen’s appreciation. FX Street reports on the possible yen forex trading forecast:
See Also
- Japanese Yen Forex Trading
Currency trading on the FX market
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