The Japanese yen gained after the Bank of Japan kept its monetary policy unchanged at today’s meeting, judging that no additional monetary stimulus is required.
The vast majority of the BoJ Board members voted in favor of keeping interest rates near zero and the asset purchase program at ¥80 trillion. The central bank said that the economy “has continued its moderate recovery trend.” Inflation is expected to remain close to the zero level as a result of decline in energy prices.
USD/JPY went down from 121.39 to 121.25 as of 11:40 GMT today. GBP/JPY sank from 179.92 to 178.89.
If you have any questions, comments or opinions regarding the Japanese Yen,
feel free to post them using the commentary form below.