2/14/2023 0 Comments Time lapse tool 2.3To wit, the BOJ's latest projections see core CPI (excludes fresh food) falling from 2.3% this year to 1.4% next year. Indeed, we note that the market agrees with the officials. The different performances cannot be entirely traced to monetary policy differences, though the Japanese yen is easily the weakest of the majors, losing more than a fifth of its value this year. The BOJ is the only G10 central bank that insists that inflation is temporary. The first real bout of profit-taking in nearly a month seen in recent days looks corrective in nature. Since then, the greenback has made up for lost time and appreciated to multiyear highs against most of the major currencies. The US dollar rally is of historic proportions. Its climb is relentless, though there was around a 4-7% pullback for a few weeks beginning in mid-July. Create New Watchlist Create Create a new holdings portfolio Add Create + Add another position Close
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