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USD/JPY May See Further Decline

  • Leader
    July 7, 2020
    May 19th, from WikiFX News. Japan’s government data released on
    Monday shows that due to the pandemic and the consequent lockdown
    measures, Japan’s GDP in Q1, 2020 fell 3.4% year-on-year, shrinking for
    the second straight month and matches the technical definition of an
    economic recession. This has been the first time after the second half
    of 2015 that the country faces a recession.To get more news about WikiFX, you can visit wikifx news official website.

      After the Fed’s aggressive monetary policies, USD/JPY still faces
    down-slope risks. The Fed’s active policy response helped reduce
    dollar’s risk of appreciating against traditional safe-haven currencies
    such as JPY and CHF, which made the Federal Reserve balance sheet
    rapidly growing to nearly US$7 trillion.
      If the situation of the
    financial market again deteriorates, the yen will be the largest
    benefactor. The bank of Japan’s latest quantitative easing policy alone
    is not enough to change the yen’s strong momentum.