Business confidence at large manufacturers in Japan improved in the second quarter (Q2) of 2024, according to the Bank of Japan's quarterly Tankan survey on Monday.
Business confidence at large manufacturers in Japan improved in the second quarter of 2024, according to the Bank of Japan 's quarterly Tankan survey on Monday. The headline large Manufacturers' Sentiment Index came in at 13.0 in Q2 from the previous reading of 11.0. Further details unveil that the large Manufacturing Outlook for the second quarter arrived at 14.0 versus 10.0 prior. Market reaction to Japan ’s Tankan survey At the time of press, theUSD/JPYpair was down 0.
The BoJ has directly intervened in currency markets sometimes, generally to lower the value of the Yen, although it refrains from doing it often due to political concerns of its main trading partners. The current BoJ ultra-loose monetary policy, based on massive stimulus to the economy, has caused the Yen to depreciate against its main currency peers.
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