The yen has shown signs of appreciation since the beginning of the week. It was reported that the government and the Bank of Japan would revise the joint statement that defined their respective roles, which led to speculation that the 2% inflation target would be revised. After last week’s series of monetary policy meetings, including the US FOMC, the Swiss central bank, the Bank of England, and the ECB, the market’s attention is likely to focus on the Bank of Japan’s monetary policy meetings to be held today and tomorrow. With Kuroda’s term as Governor of the Bank of Japan coming to an end next year, the market has recently been smoldering with speculation about the direction of monetary policy normalization. Of course, Chief Cabinet Secretary Matsuno has denied the report, but it seems that the speculation of the market continues.
Also, in China, the spread of infection is becoming more serious due to the change in the zero-corona policy. Two people have been reported dead in Beijing. However, news images showed a long line of cars lined up at a funeral home. There was an impression that there were more deaths than expected. It seems that few shoppers can be seen in the streets. Whether or not the risk-averse mood spreads to overseas markets after this will also be a point to watch.
From the above, today’s aim is to sell AUD and buy JPY and EUR.
