In the Asian session on Thursday (June 8), the USD/JPY fell from a high level, temporarily reporting 139.97, a drop of 0.13%. Observers have delayed forecasting the timing of the Bank of Japan‘s policy adjustments after Governor Kazuo Ueda repeatedly said monetary stimulus was still necessary, according to the survey.
The latest news from the Bank of Japan:
Economists remain reluctant to rule out the possibility of an early adjustment to the BOJ’s yield curve control (YCC) program. More of them also see a better chance of the BOJ meeting its inflation target, which is necessary for a policy change. More than half of those surveyed said any changes to the YCC could come as a surprise. Analysts believe that a surprise adjustment amid benign market conditions would help the BOJ avoid a bond sell-off in anticipation of a policy change.
