"Bank of Japan's Policy Shift Sparks Volatility in Yen and Global Markets"
TL;DR Summary
The Japanese Yen weakened after the Bank of Japan (BoJ) announced its first rate increase since 2007 and scrapped the Yield Curve Control policy, with the USD gaining strength against the JPY. BoJ Governor Kazuo Ueda's remarks and hawkish Fed expectations further lifted the USD/JPY pair, reversing a recent corrective decline and approaching the year-to-date peak. Technical analysis suggests a potential challenge of the year-to-date top and conquering the 151.00 mark, while the BoJ's ultra-loose monetary policy since 2013 has led to a depreciation of the Yen against other currencies.
- Japanese Yen remains heavily offered after BoJ Governor Ueda's remarks, holds above YTD low FXStreet
- BOJ Ends Era of Negative Rates With Few Clues on Further Hikes Yahoo Finance
- Japan ends negative interest rate policy in historic pivot CNN
- Stock Market Today: Dow, S&P Live Updates for March 19 Bloomberg
- Stock market today: Asian shares are mixed after Bank of Japan ups key rate for 1st time in 17 years The Associated Press
Reading Insights
Total Reads
1
Unique Readers
2
Time Saved
6 min
vs 7 min read
Condensed
93%
1,290 → 90 words
Want the full story? Read the original article
Read on FXStreet