Greenback hits ¥110 for the first time since early April
On Friday, the Japanese yen fell to ¥110 against the greenback, following speculation of negative loan rates from the BOJ ahead of next week’s monetary policy gathering.
The major American currency’s recent achievement of ¥110.75 against the yen appears to the first since April 6. The Japanese yen had been wavering¥109.26-¥109.50 before that speculation burst out.
This morning the Japanese yen has witnessed some weakness, generated by data that Japan’s major bank is relishing a though of imposing negative rates to is lending program for financial institutions, that could come along with an interest rate cut.
The given report was firstly appeared on Bloomberg News, that cited folks already familiar with discussions at Japanese central bank.
Financial analysts added that the move would suggest that the major bank’s actually paying a variety of financial institutions to borrow cash and this should stimulate lending, though it’s not guaranteed. However, it’s not enough to take some air out of the recent surge of the Japanese yen.