FBS - Analytics


    561.00 6.00/10
    84% of positive reviews

    Yen goes up to multi-month peaks

    On Thursday, the Japanese yen soared to multi-month peaks against its counterparts because the Bank of Japan’s verdict to hold fire helped short-term traders to purchase the Japanese yen. 

    During Asia trade, the greenback fell to ¥104.50 yen, the lowest outcome since September 2014. In New York, the major US currency was worth ¥104.15 yen, which is steeply lower than Wednesday’s reading of ¥106.00.   

    The common currency slumped to ¥117.88,the lowest value since January 2013, before heading further south to ¥117.50 , in Tokyo. On Wednesday, it traded at ¥119.36. Apart from that, the Japanese yen dared to ascend against the British pound and Aussie.   

    As previously expected, on Thursday, the BOJ voted to leave its annual asset-purchase target intact, currently accounting for 80 trillion yen a year. As for the deposit rate, it’s also steady at -0.1%.

    BOJ officials had signaled they would hold fire ahead of a June 23 British referendum on whether to break up with the European Union or not. 

    To leave a comment you must or Join us

    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree