Mitsubishi UFJ: The yen may continue to strengthen

Golden Ten Data on August 8, Mitsubishi UFJ said that the minutes of the July 31 meeting of Japan’s Central Bank sent a clear signal of further interest rate hikes, and the yen should recover further. Analyst Lee Hardman said in a note that the minutes released Thursday showed that some committee members described the policy Intrerest Rate as significantly low and highly accommodative, even after the policy Intrerest Rate was raised to 0.25%. “If financial markets stabilize and the yen’s rally slows, it still seems likely that Japan’s Central Bank will raise interest rates at least one more time this fiscal year.” This will support the outlook for further pumping of the JPY in the coming year.