JPY depreciated for the 11th session by 0.4% to 149.90 per USD, its weakest level since 1990. Economists at DBS Bank believe that the USD/JPY pair could reach the 159.90 high of April 1990.

No one expects the BoJ to abandon its YCC control policy

“The Bank of Japan has ruled out abandoning its loose monetary policy to counter the yen’s depreciation. Despite the pressure on the 10Y JGB yield around 0.25%, no one expects the BoJ to abandon its yield curve control policy.”

“USD/JPY has traded above 147.26, the peak of August 1998, and opened the door to the 159.90 high in April 1990.”