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to its highest level since September 2008. The USDJPY is trading above 143.50, where the intervention took it in October and November last year, and close to the 1998 turning point.
For the economy, this means that inflation expectations are becoming more firmly anchored. On the one hand, higher inflation is in line with central bank targets of previous decades. Hence the relative apathy of the, which has yet to take the slightest step to tighten policy in the fight against rising prices.
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