The yen: traders awaiting the economic growth and the yen weakening
The yen traders are waiting for positive news from the Bank of Japan. Today on Tuesday a two-day meeting of the regulator commences. It will determine the further monetary policy course of the country. The analysts expect the key interest rate to remain unchanged within the range from zero to 0.1%.
The analysts predict that the measures of the economic growth support will be changed in Japan amid the recent slack statistics.
Thus in Japan the overall PMI index fell surprisingly to 0.3%, last week the trade balance surplus surged also unexpectedly.
The economy suffers from the overestimated rate of the national currency. Despite the condition of the economy, the yen still has the status of shelter. It is expanding even versus the American dollar, which is very popular of late. The US dollar – yen pair on Monday added 30 pips thus having climbed to the level of 79.44.