The Japanese yen is holding steady on the Forex market today after interest rate was left unchanged at 0.5% and the stock markets fell slightly.
The new head of the Bank of Japan, Masaaki Shirakawa, didnt bring any surprises to the first monetary policy under his lead. Although he noted that there are problems in the economy that are keeping down the growth, the interest rate was left unchanged at 0.5%
Japanese stock markets declined today following the BoJ decision and the investors risk averting mood, which kept them out of the high-yielding markets. Opposite to the domestic stock markets behavior Japanese currency grew against the U.S. dollar and pound, while only slightly lost to euro.
USD/JPY rate fell from 102.66 to 102.36 today and, according to some analysts, may reach 100.00 level again soon. GBP/JPY dropped from 202.16 to 201.98, while EUR/JPY rose from 161.25 to 161.33 today.
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