The Japanese yen rose, but the Bank of Japan warning may limit its growth
The Japanese yen rose on Friday against many currencies, supported by falling stocks in the stock markets and oil prices, the relatively weak data from China and uncertainty in the run-up of oil-exporting countries in the weekend, which will examine the possibility of freezing production.
The Japanese yen typically strengthens when risk aversion dominated the markets. However strategist Jeremy Stretch CIBC expects that the pair will rise in the future due to the probability of interference Japanese authorities to limit yen growth.
On Thursday night, managing the Bank of Japan Haruhiko Kuroda called the yen’s recent rise too much.
Dow Jones Newswires, PRIME
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