Bank of Japan adds to Monetary Stimulus; yen drops

Please feel welcome to join in on these informative ongoing discussions about trading futures and commodities.

The Trading Forum is intended for the open discussion of commodities trading. The management of this Forum does not agree or disagree with the ideas exchanged, and does not exert editorial control over the message posted herein. Read and post at your own risk. The risk of loss in trading or commodities can be substantial. We discourage the use of this Forum to promote trading that is acknowledged to be risky. Please note: many links from the Forum lead to pages on other web sites. We cannot take responsibility for nor endorse the information presented on those sites.

Forum Policy

Return to Index

TFC Commodity Trading Forum

Bank of Japan adds to monetary stimulus; yen drops (by V. Phani Kumar)

HONG KONG (MarketWatch) -- The Bank of Japan on Wednesday said it will provide more monetary stimulus, increasing the size of its asset purchases by 10 trillion yen ($126.7 billion) to 80 trillion yen. The central bank also left its policy interest-rate target range unchanged in the current range of zero to 0.1%. The decisions were taken unanimously by the BOJ's monetary policy board. The central bank's decision to expand the monetary stimulus, coming on the heels of the U.S. Federal Reserve's own quantitative easing announcement last week, dragged the yen lower against major currencies, and boosted Japanese stocks. The U.S. dollar (USDJPY) climbed to 78.92 yen from about 78.67 yen immediately before the decision was announced, while the euro (EURJPY) appreciated to 102.97 yen from about 102.59 yen. The Nikkei Stock Average (JP:NIK) extended gains, and was up 1.2% at 9,233.66.

Forum Policy

Return to Index