USD/JPY has recovered earlier losses and is pushing higher towards 89 after U.S. Existing Home Sales topped analyst expectations. Therefore, it seems the USD/JPY’s correlative pattern is a combination of investor appetite for the risk trade countering comparatively loose monetary policy from the Fed. Since the Fed and the BOJ…
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JPY Loses Ground vs Every G10 Currency Besides the Dollar
The Yen has lost ground to every other currency in the G-10 except the Dollar, since March of 2009. The BOJ has always favored a weak currency as it supports their large export business which accounts for over 20% of their GDP.