The USD to JPY exchange rate has been in a strong downward trend in the past few months. USDJPY
That decision caught many analysts and investors off-guard. In it, the bank maintained the status quo by leaving interest rates unchanged at -0.10%, where it has been in the past few years.
The other important catalyst for the pair was last week’s US retail sales numbers. According to the commerce department, the headline retail sales dropped sharply in December as concerns about inflation continued. Sales have been in a consistent downward trend recently. Republicans, who control the House of Representatives, have asked the White House to come up with a bill that cuts spending. Without a deal, it means that the US will be heading toward default.The USD to JPY exchange rate has been in a strong downward trend in the past few months.
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