Semiannual Report on Currency and Monetary Control (Summary)
USD/JPY — All Desk Targets
| Firm | Stance | YE 2026 |
|---|---|---|
UOB | — | 160.75 |
Citi | — | 155.00 |
UBS | — | 150.00 |
All 22 desk targets for USD/JPY
What changed vs prior statement
- 01No material change in policy stance vs prior statement.
- 02Language essentially preserved across economic developments and inflation expectations.
- 03Vote split: No vote-record change.
From the original
Semiannual Report on Currency and Monetary Control (Summary) Second Half of Fiscal 2025 (October 2025-March 2026) -- The semiannual report was submitted to the Diet in June 2026. The full report is available only in Japanese. Bank of Japan Economic Developments During the period
Related speeches
4 itemsStatement by Deputy Governor HIMINO concerning the Bank's Semiannual Report on Currency and Monetary Control (Committee on Financial Affairs, House of Representatives)
(BOJ Review) Developments in and Characteristics of Japan's FX Market: An Analysis Based on the 2025 BIS Triennial Central Bank Survey
(BOJ Review) Developments in and Characteristics of Japan's FX Market: An Analysis Based on the 2025 BIS Triennial Central Bank Survey
Statistics on Securities Financing Transactions in Japan
The desk anticipates that the release of the Bank of Japan's statistics on securities financing transactions will provide critical insights into market liquidity and investor behavior in Japan. Per the full note from the Bank of Japan, the data will be published on April 21, 2026, and will include revisions to previously reported figures, highlighting the central bank's commitment to enhancing transparency in this sector. This release could influence JPY positioning as traders assess the implications for monetary policy and market dynamics. Our current consensus target for USD/JPY stands at 1.075, reflecting a cautious outlook ahead of key economic indicators.
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