The early Asian session today is full of surprises as the US dollar is recovering against other majors. The USD/JPY pair is trading at 111.28. However, analysts expect the American currency to sink against the safe yen amid comments of US president Donald Trump on health care reform. Meanwhile, Governor of the Bank of Japan Haruhiko Kuroda stated that Japan’s economy considerably advanced, but not enough to change the monetary policy. The key policy rate set by the BOJ is still on the negative territory. Haruhiko Kuroda said that they plan to make a decision on the basis of the inflation rate. Japan’s consumer prices have not reached the target level of 2%, but they show signs of gradual recovery. Still, the Governor of the Bank of Japan is not sure that Japanese inflation can notably accelerate by the end of 2017. Despite this, currency strategists believe that these comments will not hinder the yen’s growth against the US dollar, as now the traders do not know what to expect from the US president and what the Fed will decide on the funds rate.
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