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Main » 2016 » January » 28 » From the Bank of Japan depends on whether the dollar will reach ¥ 116
From the Bank of Japan depends on whether the dollar will reach ¥ 116

On Thursday in Asian trade the dollar was almost unchanged against the yen - many investors took a wait on the eve of the meeting of the Bank of Japan (BOJ) on Friday. 



The dollar rose against the yen to ¥ 118.63 to ¥ 118.69. With respect to the single currency the US dollar was trading slightly lower at $ 1.0878. The dollar index WSJ - tracks the dollar against a basket of major currencies - fell by 0.02% to 91.33. The euro against the yen was ¥ 129.06.

Market sentiment deteriorated after the Federal Reserve expressed concern about the volatility of the financial market and slowdown in economic growth in the world, it does not rule out the possibility of a rate hike in March. The stock market in the US decreased by 1.4%. Index Nikkei Stock Average closed 0.7% lower. The Shanghai Composite Index was trading at less than 1%.

Downward trend of USDJPY currency pair due to expectations that the Bank of Japan will decide on further easing of monetary policy against the backdrop of slow growth and inflation volatility in the financial markets since the beginning of the year.

"In our opinion, the Bank of Japan left policy unchanged. Too early to take additional stimulus measures, "- said Susuke Yamada, chief currency strategist at Merrill Lynch in Tokyo.

Yamada also said that if Friday the Japanese central bank will not make adjustments to the current monetary policy, the trading range of the dollar could fall to ¥ 116- ¥ 118.


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