and fear of impending recession.
The Japanese Yen has strengthened upon a rumor that the Bank of Japan’s mandate will be changed to give flexibility over the current 2% inflation target , which is requiring an ultra-dovish monetary policy. Although the rumours are currently being denied, if they turn out to be true it would likely cause a more hawkish pivot from the BoJ which would almost certainly boost the value of the Yen further. The Bank of Japan will release its Policy Rate, its Monetary Policy Statement, and Meeting Minutes later in Tuesday’s Tokyo session.
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