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On Tuesday, the evergreen buck went down to the day’s minimums versus the Japanese yen, reversing earlier revenues, which emerged right after the head of the BOJ told it remained committed to today’s monetary easing and the bank wasn’t braced for scaling back stimulus.
The currency pair USD/JPY slumped 0.47% hitting, which is not far off its four-month minimum of 110.18 reached last Wednesday.
The Japanese yen had slumped earlier in the session after BOJ Chief Haruhiko Kuroda told there’s still some distance to meet the bank’s 2% inflation objective and Japan’s key financial institution hasn’t reached the stage of thinking as for how to stop its ultra-loose monetary policy.
On Tuesday, the BOJ didn’t change its monetary policy, with interest rates staying at -0.1% as well as a cap on ten-year bond yields at 0%.
The Japanese yen had soared after in January the Bank of Japan modified its bond purchasing program, buying fewer long-term bonds.
Reportedly, the ECB is analyzing the possibility of the change of the current inflation target of "below but close to 2%". It weakened the EUR
What is important today?
USD/SGD rises as the indicators disappoint the market.
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…
On Tuesday, gold rallied because uncertainty over the latest developments in Britain’s departure from the EU backed safe haven demand and traders looked ahead for American inflation data to underpin the Fed’s pledge to remain on hold…
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