Breaking News
Investing Pro 0
NEW! Get Actionable Insights with InvestingPro+ Try 7 Days Free

Forex - Yen gains after BoJ holds policy steady, downgrades on prices

Forex Mar 15, 2016 12:05AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. Yen gains after BoJ
 
USD/JPY
+0.04%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
AUD/USD
-0.33%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
DX
+0.09%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

Investing.com - The yen gained as the Bank of Japan held policy steady, though it downgraded its inflation outlook.

USD/JPY changed hands at 113.45, down 0.33%, while AUD/USD traded at 0.7496, down 0.25%.

As expected the Bank of Japan held policy steady, but noted the market volatility has dented confidence and the price views of consumers and business. At the January meeting, the BOJ lowered lowered the rate it charges to commercial banks that park excess reserves at the central bank to negative 0.1% in a move aimed at helping its economy stave off threats of deflation. The BoJ is ostensibly hoping to keep the yield curve as low as possible in order to assist the government with financing issues by making public sector debt more affordable.

Earlier, the Reserve Bank of Australia release monetary policy meeting minutes from its March review at which it held steady at a record low 2.0% and confirmed it had room to cut rates further if needed.


The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was last quoted fell 0.03% to 96.57.

Overnight, the dollar remained broadly higher against the other major currencies on Monday, as investors continued to focus on the Federal Reserve’s upcoming policy meeting this week.

The single currency remained under pressure after the European Central Bank cut interest rates across the euro zone to new record lows and boosted its quantitative easing program last Thursday.

The ECB cut its benchmark interest rate to a record-low of zero from 0.05% and boosted its quantitative easing program by €20 billion per month to €80 billion, starting in April.

The Fed is not widely expected to raise interest rates at the conclusion of its meeting on Wednesday, given recent signs of weakness in the global economy.

But the U.S. central bank was likely to signal that rates will rise fairly soon as long as U.S. inflation and jobs continue to strengthen.

Forex - Yen gains after BoJ holds policy steady, downgrades on prices
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email