Daily outlook for JPY: Commerzbank

Quotes from Commerzbank Corporates & Markets:

-JPY: In Japan inflation does not provide any reason for optimism so far. If one strips out the VAT effect the core inflation trend is pointing downwards again.

-The BoJ-chief Haruhiko Kuroda continues to sound optimistic that the inflation target of 2% will be reached, but doubts are justified. In our view the risk of further QE measures and thus further yen weakness is high.