The Japanese yen remained steady today after the Bank of Japan kept interest rates unchanged and refrained from expanding its asset purchase program. Yesterday, the currency was weakened by expectation of an intervention from the BoJ.
Japan’s central bank kept its main interest rate near zero, in line with forecasts, and refrained from additional asset purchases, which was a bit of surprise to analysts, who have thought that the bank will take steps to weaken the yen further and to support the economy. The BoJ noted in its statement that “Japan’s economic activity is leveling off more or less”. The Japanese currency did not surge to the upside after the policy decision, as one might expect, but did not move down either, remaining near this session’s opening.
USD/JPY was near the opening level of 78.46 and EUR/JPY was a little higher from 102.13 to 102.48 as of 12:30 GMT today.
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