USD/JPY week 43

The Japanese Yen lost 0.088 points or 0.08% to 105.465 against the US Dollar on Monday. Demand for the safe haven Yen depreciated after US House Speaker Nancy Pelosi set a Tuesday deadline for the White House to agree on further fiscal stimulus. Meantime, Bank of Japan Governor Haruhiko Kuroda said on Sunday there was no need to change the central bank’s inflation target or forward guidance, noting that the Japanese economy was likely to follow an improving trend though risks were skewed to the downside due to uncertainty regarding the fallout from COVID-19. In local data, Japan recorded its third straight month of trade surplus and the largest since February, as exports fell by 4.9% year-on-year to JPY 6.06 billion while imports dropped at a faster 17.2%.

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