USD/JPY starts 2022 like it left off 2021 – higher


Bank of Japan Governor Kuroda spoke earlier, not saying too much of impact. There is zero sign of any tapering/tightening in policy from the BOJ. Yen has been weak for the back part of 2021 and more of the same today on the first Japan session of the new year (Japan was on holiday yesterday).

With the impact of Omicron now being seen as not as bad it could have been and demand for growth assets rising the attractiveness of ‘haven’ assets, such as yen, has waned.



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