Despite the solid lead from Wall Street Japan’s equity market is under pressure:
- Nikkei is down around 1%
Meanwhile the yen is higher,
- USD/JPY down to lows circa 146.65
I don’t know if anyone saw it., but Reuters had a piece mid-week about pressure on the Bank of Japan to sort out its concenr that underlying inflaiton is not at target. the argument being that there is not defined measue of underlying the Bank of Japan refers too, it seesm moveable. Critics are urging the Bank to abandon whatevery it is and get on with rate hikes.
I am unsure of the importance of this, but its fits the narrative of a higher yen and lower stock market today.
This article was written by Eamonn Sheridan at investinglive.com.
