Yen Stronger After BoJ Makes No Move

The Japanese yen was stronger after a central bank’s policy meeting today as Japanese policy makers yet again decided to refrain from changing anything. The currency gained against the US dollar and the Great Britain pound, though it has trimmed gains versus the former as of now.
The majority of the Bank of Japan board members decided to make no changes to monetary policy. The single dissenter offered to reduce the size of asset purchases. Overall, the statement was rather optimistic, saying that “Japan’s economy has continued to recover moderately” and “private consumption has been resilient.”
USD/JPY ticked down from 121.03 to 120.93 as of 12:19 GMT, reaching the low of 120.64 intraday. GBP/JPY dropped from 189.54 to 189.15.

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