Yen Weakens After BoJ Policy Meeting

The Japanese yen slid against its major peers today even though the Bank of Japan left its monetary policy unchanged and was relatively optimistic in the policy statement.

The BoJ kept its monetary policy without changes at today’s meeting, including the interest rates which remained in the negative territory. The voting was not unanimous with two dissenters, one of whom voted for lifting rates into the positive territory. The central bank also upgraded its economic forecasts, improving the outlook for all macroeconomic indicators, including inflation.

USD/JPY rose from 117.08 to 117.91 as of 16:57 GMT today. EUR/JPY went up from 121.79 to 122.44.

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