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Watching the Bank of Japan's Tone Amidst Yen Weakness
The BoJ's recent commentary, or lack thereof, on the yen's sustained weakness is becoming a focus. With $GBPJPY pushing 216.361 today, it makes you wonder how much further they'll let it slide before intervention becomes a serious consideration, especially with core inflation still elevated there.
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It's a tough spot for them; intervening could have other ripple effects on their domestic economy, which they're trying to stimulate. I wonder if they're weighing the damage from a weak yen against the potential blowback from propping it up too aggressively.