Yen Mixed After BoJ Announcement
December 18 2019 - 7:40PM
RTTF2
The yen showed mixed trading against its major counterparts in
the Asian session on Thursday, after the Bank of Japan left its
massive monetary stimulus unchanged and maintained its upbeat
assessment on economy.
The central bank maintained the interest rate at -0.1 percent on
current accounts maintained by the financial institutions.
The bank maintained it yield target for 10-year Japanese
government bonds at around zero percent.
Further, the bank will purchase JGBs in a flexible manner so
that their outstanding amount will increase at an annual pace of
about JPY 80 trillion.
The BoJ reiterated that it will not hesitate to take additional
easing measures if there is a greater possibility that the momentum
toward achieving the price stability target will be lost.
The yen traded mixed against its major rivals on Wednesday.
While it held steady against the greenback and the franc, it rose
against the pound and the euro.
The yen rebounded slightly to 109.56 against the greenback, from
an early 3-day low of 109.68, and held steady thereafter. The pair
had finished Wednesday's deals at 109.54.
After rising to a 3-day high of 121.69 against the euro at 5:00
pm ET, the yen retreated and held steady thereafter. At Wednesday's
close, the pair was worth 121.73.
The yen fell to an 8-1/2-month low of 111.85 against the franc
and traded steadily thereafter. The pair was quoted at 111.72 at
Wednesday's close.
The Japanese currency reached as low as 143.48 against the pound
before holding steady in later deals. The pair had ended
yesterday's trading session at 143.25.
Looking ahead, Swiss trade data for November is due out at 2:00
am ET.
U.K. retail sales for November are slated for release in the
European session.
At 7:00 am ET, the Bank of England announces its interest rate
decision. Economists widely forecast the benchmark to remain at
0.75 percent and asset purchase program at GBP 435 billion.
In the New York session, Canada wholesale sales for October,
U.S. weekly jobless claims for the week ended December 14, existing
home sales and leading index for November will be featured.
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