U.S. dollar the convertible yen (90.88,0.5800,0.64%) a strong rise, or about 2%, to refresh the 30-month high to 90.54. Nishimura Kang Nim, days after Japanese Vice Minister of Economy and Finance said in Tokyo that the Government is not worried about the exchange rate rose to 100, making the yen under pressure. In addition, the strong U.S. initial jobless claims report and a downturn in the Japanese trade data also weighed on the yen.
Recently, the now 50-year-old Japanese Vice Minister of Economy and Finance, Nishimura Kang Nim (Yasutoshi Nishimura) in Tokyo interview that the U.S. dollar against the yen in the 100 is not a problem. He said the current U.S. dollar against the yen and remained in the 90 or so can be seen before the strong yen a correction, but that is not enough, is not over yet. "In addition, he responded Abe consultant Hamada Koichi (Koichi Hamada) Prior to the speech that will increase the cost of imports, implying that the government will not let the excessive weakening of the yen when the U.S. dollar against the yen reached about 110-120.
For European criticism, Minoru Nishimura Kang said: "Europe is not qualified to criticize Japan, Europe had already taken measures to long-term depreciation of the Euro, at the time, Japan has expressed support for Europe, and buy bonds."
Nishimura Kang Nim's remarks hinted that depreciate against the yen on the international criticism may not slow down the action of the depreciation of the yen Shinzo Abe (Shinzo Abe). His speech significantly suppressed the yen, intraday USDJPY once refreshed 30-month high to 90.54.
In addition, Japan's weak trade data also weighed on the yen. The data show that the Asian market, Japan's Finance Ministry announced Japan in December last year, exports fell 5.8% year-on-year decline is greater than market expectations of 4.2%, the annual trade deficit reached 6.9273 one trillion yen trade deficit for the second year in a row, and scale to record a new high. The data showed that Japan's exports face a lot of pressure, which may find more to justify the radical easing of the Bank of Japan.
U.S. initial strong data boosted market sentiment, to suppress the yen. The data released by the U.S. Department of Labor (Labor Department) on Thursday (January 24) January 19 when the number of claims for unemployment benefits 33 people, refresh the lowest since January 2008, while the number of initial jobless claims The four-week average to its lowest since March 2008, continued jobless claims to the lowest since July 2008. Industry experts pointed out that from the current situation in the beginning of unemployment benefits please a number of people around the moving average is now very close to this level of 350,000, based on past experience, the beginning of unemployment benefits, please fell to this level often means that the unemployment rate will decline further substantial.
Morgan Stanley (Morgan Stanley) said on Thursday (January 24), the full pressure, as the yen resumed for the U.S. dollar against the yen is expected to extend its gains. The bank said the deterioration in Japan's export data and Friday (January 25) will be released in Japan CPI data is expected to show the country remains grim deflationary pressures, which will inspire the Japanese officials to speed up the pace of policy change. The bank to do more than $ 88.50 against the yen, targeting 95.00, with a stop at 88.50.
Goldman Sachs on Wednesday (January 23) USDJPY is expected at the end of 2013 to 87.
Friday (January 25), the investors need to pay attention to the minutes of the meeting of the Japanese inflation data and the central bank, inflation data is directly related to the Japanese government and the central bank's monetary policy. Currently economists are more pessimistic economic outlook in Japan, the deflation forecast the country will be continued in December, and domestic demand, it is difficult to rebound. In addition, the Bank of Japan meeting minutes are expected to disclose the attitude of the Bank of Japan monetary policy, is also expected to yen a certain impact.
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