Hasn T: Currency Pair and Reflationary Policy

hasn t: The nation's reflationary policy, dubbed Abenomics, drove the dollar-yen rate to more than 125 in 2015 from below 80 when Prime Minister Shinzo Abe unveiled his policy initiatives, according to The Japan Times. The currency pair touched its peak of 125.86 in June 2015, before slumping to below 100 last year. It hasn't happened, so why should the yen be cheap to fair value The Bank of Japan pushed back in July the projected timing for reaching its 2 percent inflation target for the sixth time as economic growth failed to drive price gains. It has traded from 107.32 to 118.60 this year, driven by bouts of risk aversion from North Korean tensions and a sell-down of the dollar as optimism over U.S. economic and tax reforms faded. Though Japan's economy is in its longest expansion for more than a decade, price pressures have refused to accelerate with core inflation up just 0.5 percent in July. HSBC made its call for the yen to reach 100 in the last quarter of the year in April, according to data compiled by Bloomberg. (news.financializer.com). As reported in the news.