How to trade the JPY?
Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:
Yen pares revenues in Asia after BOJ leaves its rate intact
On Tuesday, the Japanese yen pared earlier revenues in Asia because the Japanese major financial institution showed that meeting sustained 2% inflation objective remains years away notwithstanding aggressive monetary policy easing.
The currency pair USD/JPY sank 0.01% reaching 113.17, AUD/USD hit 0.7677, sliding 0.14%. Meanwhile, EUR/USD went down 0.11% being worth 1.1637, GBP/USD decreased 0.03% showing an outcome of 1.3204.
Assessing the greenback’s value versus a basket of six crucial currencies, the US dollar index rallied 0.08% reaching 94.46.
On Tuesday, the BOJ left its asset purchases at about ¥80 trillion annually exactly as anticipated, with the short-term interest rate staying at 0.1%.
Aside from that the Bank of Japan kept its core inflation estimate at 1.8% for FY2019/20, intact from July as it repeated its view on the Japanese economy that risks happen to be well-balanced.
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