28 Apr 2016
USD/JPY: Yen strikes back with a vengeance - FXStreet
Valeria Bednarik, chief analyst at FXStreet explained that the USD/JPY pair plummeted to 107.91, its lowest since April 18th.
Key Quotes:
"The USD/JPY pair plummeted to 107.91, its lowest since April 18th.after the Bank of Japan said, in its monthly meeting, that it needs more time to assess the impact of negative interest rates, and decided to maintain its monetary policy unchanged.
The announcement caught investors wrong-footed, as over the past three weeks, they have been steadily pricing in some action from the BOJ. The JPY came back with a vengeance, and the USD/JPY pair is poised to extend its decline, particularly on a break below the 107.60 region, where it established a triple floor late March/early April."
Key Quotes:
"The USD/JPY pair plummeted to 107.91, its lowest since April 18th.after the Bank of Japan said, in its monthly meeting, that it needs more time to assess the impact of negative interest rates, and decided to maintain its monetary policy unchanged.
The announcement caught investors wrong-footed, as over the past three weeks, they have been steadily pricing in some action from the BOJ. The JPY came back with a vengeance, and the USD/JPY pair is poised to extend its decline, particularly on a break below the 107.60 region, where it established a triple floor late March/early April."