{"id":88815,"date":"2016-04-28T06:51:34","date_gmt":"2016-04-28T10:51:34","guid":{"rendered":"http:\/\/countingpips.com\/?p=88815"},"modified":"2016-04-28T06:51:34","modified_gmt":"2016-04-28T10:51:34","slug":"usdjpy-plunges-2-percent-after-boj-disappoints-and-holds-policy","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2016\/04\/usdjpy-plunges-2-percent-after-boj-disappoints-and-holds-policy\/","title":{"rendered":"USDJPY plunges 2 percent after BoJ disappoints and holds policy"},"content":{"rendered":"
April 28, 2016<\/div>
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Article by ForexTime<\/a><\/p>\n

The yen strengthened on Thursday after the Bank of Japan surprised markets by keeping monetary policy steady.<\/p>\n

After a two-day policy meeting, the BOJ showed that it is in a wait-and-see mode to judge the effects of its negative rate policy. It left its main interest rate unchanged at minus 0.1 percent by a 7-2 vote. Its asset purchase program was left at an annual pace of 80 trillion yen by a 8-1 vote.<\/p>\n

Markets were disappointed on the news as they expected the BoJ to take some action in order to stimulate the Japanese economy and to deal with low inflation.<\/p>\n

USDJPY tumbled 2 percent after the news to touch a low of 108.73, a more than one week low.<\/p>\n

Meanwhile, the US Federal Reserve announced on Wednesday its decision to hold rates. The Fed statement sounded a bit more hawkish overall though and this initially supported the dollar. However, this rapidly changed after the BoJ announcement.<\/p>

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Another central bank meeting today was by the Reserve Bank of New Zealand (RBNZ) which also left interest rates unchanged. The benchmark rate was left on hold at 2.25% today. The kiwi jumped on the news as markets push back expectations for a rate cut in June.<\/p>\n

NZDUSD rose to 0.6919, up 0.52%, after the RBNZ announcement.<\/p>\n

In other currencies, EURUSD traded up to $1.1343 while GBPUSD hovered around $1.4540.<\/p>\n

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\"Forex-Time-Logo\"Article by ForexTime<\/a><\/span><\/strong><\/p>\n

ForexTime Ltd (FXTM)<\/strong> is an award winning international online forex broker regulated by CySEC 185\/12 www.forextime.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Article by ForexTime The yen strengthened on Thursday after the Bank of Japan surprised markets by keeping monetary policy steady. After a two-day policy meeting, the BOJ showed that it is in a wait-and-see mode to judge the effects of its negative rate policy. It left its main interest rate unchanged at minus 0.1 percent […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-88815","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/88815","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=88815"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/88815\/revisions"}],"predecessor-version":[{"id":88835,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/88815\/revisions\/88835"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=88815"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=88815"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=88815"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}