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The Bank of Japan (BOJ) will consider downgrading its assessment on factory output at the June policy meeting due to supply disruptions caused by China’s covid lockdowns, Reuters reports, citing sources with the central bank’s thinking.
The BOJ is expected to maintain the view that Japan’s economy is picking up as a trend, noting that it is likely to continue improving, the sources added.
Market reaction
The above headlines are adding to the downside in the Japanese yen, driving USD/JPY to fresh 20-year highs of 133.79. The pair is up 0.90% on the day.
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