Lousy sales and a strong yen will likely push Toyota to loss this fiscal year, the Nikkei reports. Earlier this week Honda announced it would likely lose money in the second half of the year as well.
Against this backdrop, the BOJ met today and concludes tomorrow, and is expected to cut rates to about 10 bp from 30 bp at present. The MOF has increased its jawboning against the yen in recent days to some effext, sparking a bounce to 90.00 earlier today from near 87 overnight. We head into the close around 89.30.
