Forex News June 15, 2022

 

Inflation

Japan’s Prime Minister, Yoshihiko Kishida, expects BOJ to continue efforts to meet the price target.

Kishida reiterates that the Bank of Japan is in charge of monetary policy.

Kishida’s material is pretty much the same as before. The BOJ is more concerned about 10-year JGB rates deviating from its implicit cap of 0.25 percent at the moment.

The yen may be getting some relief on the day as the dollar loses some of its gains and Treasury yields fall ahead of the Fed meeting. However, if the BOJ continues to throw everything at the yield curve in order to keep it under control, it’s hard to see yen advances as much more than a blip on the radar.

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