I think at the moment what they are trying to do is limit yen strength, given the fact that Japanese corporations are still facing a lot of deflationary pressures. Japanese trade data showed another fall in exports, which is a byproduct of the yen strength we've seen over the past few months.
Allison Montgomery
Fundamentals will determine the level of dollar-yen, and the fundamentals still argue for a higher dollar-yen.
strength moment past data fall corporations japanese fact limit trade
I think that it looks like what the market is doing is starting to look to Thursday's ECI and GDP numbers and starting to maybe get a little bit nervous about it.
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It provided quite a strong figure for Q3.
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