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Higher Rates Might Not Benefit Japanese Yen in The Long Term -- Market Talk
Unfazed by the possibility of a repeat of "Black Monday," the Governor of the Bank of Japan is resolutely hawkish, still planning to raise interest rates.
Although the Japanese stock market just experienced a "Black Monday" crash earlier this month, the Bank of Japan's determination to raise interest rates does not seem to be shaken. On Friday, Bank of Japan Governor Kuroda Haruhiko stated during a parliamentary questioning session that if Japan's inflation and economic data continue to meet the central bank's expectations, the Bank of Japan will continue to raise interest rates.
Swiss Franc JPMorgan: The yen still has room for upward movement but at a slow pace.
Dr. Claudio Wewel, forex strategist at Swiss Julius Baer, released the latest market research report, pointing out that the yen weakened slightly after stopping its rising trend last week, causing market concerns about its future trend.
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