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TOKYO (MNI)
Having eyed yen strength for months, Bank of Japan officials are now watching the currency weaken against the dollar, with the main concerns a lower yen will push up import prices, driving up corporate costs. It isn't expected the weaker yen will push the economy off its projected moderate recovery path in the near term, as the boost to Japan's exporters will underpin the manufacturing sector, MNI understands.
Higher import prices added to rising crude oil prices will squeeze profits at transportation and fishery industries, feeding through into weaker and corporate and household sentiment, is a main concern for officials.
Dollar-yen
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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