Japanese yen dives after BOJ meeting

Japanese yen dives after BOJ meeting

On Friday, the common currency kept declining after yesterday's considerable sag against the evergreen buck. The key catalyst for the dive of the currency pair EUR/USD are the outcomes of the ECB gathering as well as the statement of ECB Governor Draghi.

During yesterday's gathering, the EU’s key bank announced the reduction of the quantitative easing initiative from September to December, although added that rates are going to remain at current levels until the summer of next year. Following the gathering, the European Central Bank left the benchmark interest rate at 0%. The European Central Bank told it would have the monthly volume of bond purchases cut under the QE initiative starting from October from 30 billion euros to nearly 15 billion euros and finish the program in December this year.

Additionally, ECB Governor Mario Draghi stressed that stimulation through monetary policy is still required. He added that the major bank will keep moving towards its objective.

Japan’s currency headed south a bit after it was unveiled that the Bank of Japan left its the deposit rate intact at the level of -0.1%.  

The annual volume of buying of ETF is kept intact at about Y6 trillion, while the annual volume of buying of J-REIT accounts for Y90 billion yen.

According to the statement of Japan’s main financial institution, the Asian country’s economy is soaring modestly, while inflation expectations are moving sideways.

The statement ascertains that inflation is capable of speeding up to 2% because the gap in output is going to get better. As a matter of fact, inflation expectations in Japan are currently soaring. As for CPI, it’s still fluctuating between 0.5%- 1%.

By the way, member of the Board of the Bank of Japan Kataoka didn’t appreciate the retention of the interest rate at the same level.

Similar

Popular

Asian shares tumble with Japan markets shut

On Monday, stocks in Asia declined with markets in Japan unavailable for a holiday and traders watching oilfield-related stocks after a bankruptcy filing by Singapore's Ezra Holdings…

Greenback surges as yields soar

On Friday, the evergreen buck added against the Japanese yen and euro, drifting away from recent minimums, though revenues were capped as traders focused on a showdown between Donald Trump and members of his own party as for a fresh healthcare bill…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera