FXstreet.com (Barcelona) - The Japanese yen continues to strengthen against its American counterpart on Monday, bolstered by the positive data out of the Tankan index series published earlier on in Japan and the worsening sentiment circling the euro zone.
Y.Goto, analyst at Nomura, admits the importance of today’s results and highlight that the Japanese confidence remained high despite the ongoing crisis in the euro zone and the tepid US fundamentals as of late.
The expert adds that the improvement in the key survey “…lowers the possibility of additional easing at the next policy meeting … Rises in stock price and yen crosses in June also slightly reduce the likelihood of monetary easing…”. He comments that in case of further stimulus, its impact in the markt would be minor, “…as domestic business confidence remains relatively strong…”.
Y.Goto, analyst at Nomura, admits the importance of today’s results and highlight that the Japanese confidence remained high despite the ongoing crisis in the euro zone and the tepid US fundamentals as of late.
The expert adds that the improvement in the key survey “…lowers the possibility of additional easing at the next policy meeting … Rises in stock price and yen crosses in June also slightly reduce the likelihood of monetary easing…”. He comments that in case of further stimulus, its impact in the markt would be minor, “…as domestic business confidence remains relatively strong…”.
