USD/JPY down a big figure from its earlier high - China protests, Kuroda boosting yen

Over the weekend, and continuing, protests in China:

• COVID - Protests erupt across China: "Step down, Xi Jinping! Step down, Communist Party!"

The early moves were flows into the USD on a 'haven' basis (and out of 'risk):

• The USD is firmer in early Asia with haven flows, due to widespread protests in China

USD/JPY traded higher but it was a laggard, the yen not losing as much ground as AUD, EUR and others. Yen is a haven flow also. We then had remarks from Bank of Japan Governor Kuroda and Japanese PM Kishida which further bolstered JPY JPY The Japanese yen (JPY) is the official currency of Japan and at the time of writing is the third most-traded currency in the world behind only the US dollar and euro.The JPY is used extensively as a reserve currency and is relied upon by forex traders as a safe haven currency.Originally implemented in 1871, the JPY has had a long history and has survived multiple world wars and other events. This was followed by the creation of the Bank of Japan (BoJ) in 1882 and the full oversight of the JPY by The Japanese yen (JPY) is the official currency of Japan and at the time of writing is the third most-traded currency in the world behind only the US dollar and euro.The JPY is used extensively as a reserve currency and is relied upon by forex traders as a safe haven currency.Originally implemented in 1871, the JPY has had a long history and has survived multiple world wars and other events. This was followed by the creation of the Bank of Japan (BoJ) in 1882 and the full oversight of the JPY by Read this Term:

• BoJ Governor Kuroda says tightening labour market will help drive up wages ahead

Higher wage growth is exactly what the BOJ has been itching for. Up to now the Bank attributes higher Japanese inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term to cost-push factors (higher import prices and weaker yen combined) and says this 'cost push' inflation is transitory. Wage growth, on the other hand, would be supportive of more stable and sustained CPI growth.

USD/JPY is down a hundred-odd points: