The Japanese yen fell against its major rivals today after the Bank of Japan released the summary of opinions voiced on the last policy meeting.
Japanese policy makers showed disagreement about the necessity of keeping interest rates in the negative territory. Some argued in favor of removing them:
Withdrawal from the Bank’s negative interest rate policy is preferable.
Other argued against such a move:
Undoing the negative interest rate policy is not an option because the markets have started to take actions and many economic entities already have moved forward based on the policy.
Overall, it does not look like the BoJ is ready to change its policy in the near future.
USD/JPY rose from 112.38 to 112.64 as of 10:56 GMT today, touching the high of 113.00 intraday. EUR/JPY was up from 125.64 to 125.77, and its daily high was at 126.14.
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