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    USD/JPY: The policy of the Bank of Japan remained unchanged on 15.03.2016

    The Bank of Japan has left interest rate on deposits unchanged at the level of -0.1%. Money base program has also remained unchanged with the increase by 80 trillion yen per year.

    The bank has lowered overall assessment and at the same time, stated that economy is recovering at the moderate pace and the bank might introduce additional measures if needed.

    At the press-conference the head of the bank Mr. Haruhiko Kuroda said that the bank was not going to refuse from the policy of the negative interest rates. He added that the effect of this policy will be appreciated later. At the same time Mr. Kuroda expects that inflation will reach the target level of 2% in the first 6 months of the fiscal year of 2017.

    Following the decision by the Bank of Japan to keep the policy unchanged, the pair USD/JPY slightly went down; at the Asian session Japanese index Nikkei Stock Average fell by 0.7%.

    The Yen, which is a safe-haven currency, rose due to the decision of the Bank of Japan and sales of the export earnings.

    Attention of the market participants is focused on the 2-day meeting of the US Fed. Tomorrow at 20:00 (GMT 2) The US Fed will announce interest rate decision. T the press-conference at 20:30 the head of the US fed Janet Yellen will comment on the future monetary policy of the Central Bank. These comments will affect dynamics of the USD and the world financial markets in the near future.

    It is likely that the pair USD/JPY will remain at the level of 113.00 prior to the meeting of the US Fed.

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