ING Bank: Japanese investment in the US and the dovish stance of the Bank of Japan may put pressure on the yen.

Min Joo Kang, senior economist at ING Bank in South Korea and Japan, stated that Japan's $550 billion investment in the United States, as well as the dovish stance of the Bank of Japan, may put pressure on the yen. She pointed out that during an event at the White House, US President Trump announced that the US and Japan will jointly promote the Alaska liquefied natural gas project, but emphasized that most of the benefits will stay in the US. Meanwhile, Bank of Japan Deputy Governor Masahiro Ueda also signaled a dovish stance today, suggesting that there is no urgency to raise interest rates. Min Joo Kang believes that the Bank of Japan may need more time to assess the details of this trade agreement and its specific impact on the economy.