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USDJPY Stays Near 148 Per Dollar; Governor Ueda Maintains Patient Approach On Monetary Easing

Published on Sep 25, 2023 12:57

USDJPY stays on the sidelines on Monday after having hit a near one-year high against the dollar last week after the Bank of Japan (BOJ) maintained a dovish stance on monetary policy. Further, BoJ Ueda today reiterated that that they must patiently maintain monetary easing. He emphasized the need to spend more time assessing data before raising interest rates. The Bank aims to achieve the price stability target of 2 percent in a sustainable and stable manner, accompanied by wage increases. Meanwhile, the dollar index is staying idle after hitting multi-month peaks around 105 mark today. Currently, USDJPY pair is quoting at 148.42, up marginally. On the NSE, JPYINR September futures are trading almost flat at 56.03.

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