JPY Bid runs following BOJ Surprise – Video Analysis

JPY Bid runs following BOJ Surprise – USDJPY has declined for a second consecutive day.  The move has been driven by broader yen gains, with EURJPY and AUDJPY, among other yen crosses, also down. Market participants have been continuing to digest the BoJ’s QE tapering announcement of yesterday, despite some market narratives downplaying the taping move has being little more than a baby step, with the central bank likely to remain committed to its YCC (yield curve control) policy in the face of the chronic undershooting of the inflation target.

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Stuart Cowell

Senior Market Analyst


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