Bank of Japan Governor Kazuo Ueda stated on Friday that the persistent weakness of the Japanese Yen (JPY) is significantly impacting import prices and consumer inflation. Ueda emphasized that fluctuations in the currency are now exerting a greater influence on the economy compared to the past, suggesting that this trend will likely continue to affect the USD/JPY exchange rate.
As the Yen depreciates, rising import costs could lead to higher consumer price index (CPI) readings, challenging the Bank of Japan's efforts to maintain price stability. The current environment, characterized by elevated inflation pressures, may prompt traders to reassess their positions on the JPY against major currencies such as the USD and EUR, potentially increasing volatility in the forex market.
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Data Source: FX Killer Analysis Team Updated: 2025-11-21 01:24
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.