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Yen Tumbles After BoJ Policy Announcement

ByFxNet
Published 02/18/2014, 06:49 AM
Updated 04/25/2018, 04:40 AM

Asian Session

The yen tumbled against major counterparts after the announcement from the Bank of Japan that monetary policy and economic assessment will be left unchanged. The Bank also extended and doubled two loan programs.

The USD/JPY and the JPY crosses rallied with the Nikkei following the BOJ policy announcement. From just below 102.00, USDJPY surged up to 102.73. The EUR/JPY rallied from 139.50 to 140.50, and the GBP/JPY from 170.17 to 171.35.

The EUR/USD opened in Asia at 1.3705, Trading was extremely quiet over the past 24 hours with the pair hovering around 1.3700. During the Asian session the pair traded a 1.3695-1.3717 range.

Looking ahead, the euro will be in focus as the German ZEW investor sentiment data will be released in the European session today.
the GBP/USD edged higher from 1.6710 to 1.6736 in Asia following the downside retracement to 1.6694 overnight. The EUR/GBP consolidated between 0.8193-97 in Asia after the bounce last night.

Key risk for the sterling today will be UK inflation data.

The AUD/USD opened in Asia and held between 0.9030-42 ahead of the Reserve Bank of Australia minutes then rose to a fresh one-month peak of $0.9081. The minutes had nothing new to say but alt of the move in AUD was based on positioning.

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