USD/JPY: Yen renews four-month low as Bank of Japan surprises markets – by anilpanchal7 USDJPY BOJ SEO YieldCurve CentralBanks
trader’s mood, the quote initially slumped to the lowest levels since early August before the recent bounce from 132.66 to 133.60. Even so, the quote remains 2.75% in the red as we write.Bank of Japan held its benchmark rate unchanged at -0.10% and kept the short-term interest rate target at -0.1% while directing 10-year Japanese Government Bond yields toward zero. In doing so, the Japanese central bank matched the market expectations and should have kept the USD/JPY intact.
In doing so, BOJ’s Kuroda highlights the need for a 2.0% inflation target, as well as shows readiness to ease monetary policy if needed.
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