Reuters survey of Japanese firms: Almost half of firms see USD/JPY above 155 as a negative

The latest

Reuters Japan Corporate Survey, main points:

• Almost half of firms see yen’s weakness beyond 155 yen per dollar
  negative for their business
• Quarter of firms see
  yen’s slide below 155 yen per dollar as beneficial
• 37% of firms want
  the BOJ to raise rates to counter weaker yen
• Nearly two-thirds of
  firms considering raising product prices to cope with yen’s weakness
• 34% of firms want
  Japan’s government to conduct forex intervention to counter softer
  yen

These results give you an indication of the sorts of pressures the Bank of Japan is under domestically to support the yen. Meanwhile they are sweating about maintaining inflation at or above target. Between a rock and a hard place they are.

Bank of Japan Governor Ueda

This article was written by Eamonn Sheridan at www.forexlive.com.