The Japanese yen jumped today after the Bank of Japan left its monetary policy unchanged, refraining from additional stimulus and disappointing traders who have counted on more accommodative policy.
The BoJ left both interest rates and the intended size of asset purchases unchanged at today’s meeting. Previously, policy makers were talking about stimulating economy and some market participants were frustrated by the lack of action from the central bank today. It looks like the bank wants to take pause after its previous aggressive actions.
USD/JPY fell from 98.74 to 96.89 and EUR/JPY dropped from 130.90 to 128.61 as of 12:27 GMT today.
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