BOJ must keep ‘aggressive’ easing even as yen drops, Kuroda says
Bloomberg/Toru Fujioka and Matthew Boesler/4-22-2022
“Governor Haruhiko Kuroda said the Bank of Japan must keep applying monetary stimulus given the more subdued inflation dynamics in the country compared with the U.S., in remarks Friday that omitted any reference to the yen’s depreciation.”
USAGOLD note: The price of gold is skyrocketing in Japanese yen as the BOJ pursues its aggressive easing policy. Gold is up almost 19% in yen over the past three months while the yen is down about 12% against the dollar over the same period ….. While the collapsing yen has contributed to a bullish gold market in Japan, it has also contributed to dollar strength and gold’s downtrend over the past several days.
Gold in Japanese yen
(%, three months)
Chart courtesy of TradingView.com