Yen Higher vs. Euro After BoJ Concludes Policy Meeting

The Japanese yen was flat versus the US dollar and gained on the euro after the Bank of Japan concluded its policy meeting followed by a press-conference.
The BoJ made no changes to its monetary policy, in line with market expectations. There was again one dissenter who voted for reducing the size of asset purchases. At the press-conference, Governor Haruhiko Kuroda, who had said previously that the yen is weak, said that the weaker currency will not hurt the economy much and should not affect monetary policy:

At present, I don’t think yen declines are causing severe damage to Japan’s economy. There’s absolutely no truth to the view that the weak yen will deprive monetary policy of flexibility.

USD/JPY traded at about 122.77 as of 13:30 GMT today after opening at 122.95. EUR/JPY dropped from 139.66 to 139.09.

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