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USD/JPY2016-04-28 18:11 UTC

USD-JPY picked itself up from the floor, trading to 108.73 highs after basing at 107.92 after the surprise inaction from the BoJ overnight. Relatively steady U.S. equities early in the session provided some support after the Nikkei took a drubbing last night, shedding 3.6%, with short covering interest reported from Japanese accounts. The Fed's concerns over slowing growth, punctuated by the soft Q1 U.S. GDP report released earlier, will ... Read More 

XE Market Analysis

  • North American Edition2016-04-28 10:34 UTC

    The yen surged in the wake of the BoJ's decision to refrain from easing policy, which resolutely disappointed markets with data today showing core CPI falling to a three-year low of -0.3% y/y, well off the BoJ's 2% target. Japan's Nikkei 225 equity index finished 3.6% in the red having been showing a 1.5% gain ahead of the central bank's announcement. USD-JPY clocked low at 107.93 during the London AM session, extending a 2.5%-plus decline in Tokyo trade, ... Read More 

  • European Edition2016-04-28 06:26 UTC

    The yen surged over 2.5% in the space of less than three minutes following the BoJ's unexpected decision to refrain from easing policy. USD-JPY dove from 111.68 to a low of 108.76, more than reversing the gain seen last Friday following a Bloomberg report suggesting that the central bank would introduce negative-rate loans. No such policy came to be, and the central bank left the deposit rate at -0.1% and the annual pace of QQE purchases at Y80 tln. Yen ... Read More 

  • Asian Edition2016-04-28 18:11 UTC

    Following overnight gyrations, led by USD-JPY, FX trade was relatively calm through the N.Y. session on Thursday, with major dollar pairings largely stuck inside of narrow ranges. Wall Street stumbled on the back of a softer GDP report, though yields moved up from session lows. EUR-USD moved between 1.1359 highs and 1.1311, as USD-JPY attempted to rally, peaking at 108.73 before falling back into 108.00 as stocks faded. USD-CAD eased into 1.2521 lows as ... Read More 

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