Yen Halts Rally

The Japanese yen fell against the US dollar and the Great Britain pound today following yesterday’s big jump.
Yesterday, the yen had rallied as markets apparently felt that the ¥28 trillion stimulus package announced by the Bank of Japan was not enough to bolster the Japanese economy. Today, the BoJ released minutes of its June meeting, which showed doubts among policy makers regarding the effects of negative interest rates. Japan’s currency did not react positive to the news, moving lower against its major peers.
USD/JPY rallied from 100.89 to 101.33 as of 10:18 as of 10:18 GMT today. GBP/JPY rose from 134.72 to 135.32.

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