The Japanese yen climbed against its major rivals today after the Bank of Japan concluded its monetary policy meeting, adjusting the policy but refraining from a major stimulus expansion.
The BoJ kept its main interest rate at -0.1% and tweaked the asset purchase program, focusing on yield curve. But investors felt that the move was underwhelming without a significant addition of monetary accommodation. Such view helped the yen to maintain its appeal and to rise to multi-week highs.
USD/JPY fell 1.1% from the open of 101.71 to 100.62 as of 15:41 GMT today after reaching the high of 102.76 intraday. EUR/JPY dropped from 113.41 to 112.18, trading near the lowest level since July 11.
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