Yen Falls As BoJ Leaves Monetary Policy Unchanged
December 18 2014 - 10:25PM
RTTF2
The Japanese yen weakened against the other major currencies in
the Asian session on Friday following the Bank of Japan's
announcement to leave its monetary policy unchanged in its December
meeting.
The bank decided by a 8-1 vote to raise the monetary base at an
annual pace of about JPY 80 trillion. Also, the bank lefts its
asset purchase policy unchanged.
The bank reaffirmed that the quantitative and qualitative easing
has been exerting its intended effects and that the bank will
continue with the policy to achieve the price stability target of 2
percent.
The yen fell to an 8-day low of 119.35 against the U.S. dollar
and a 4-day low of 186.85 against the pound, from yesterday's
closing quotes of 118.81 and 186.16, respectively.
Against the euro and the Swiss franc, the yen edged down to
146.45 and 121.60, from yesterday's closing values of 145.94 and
121.21, respectively.
If the yen extends its downtrend, it is likely to find support
around 148.57 against the euro, 189.32 against the pound, 123.64
against the Swiss franc and 121.17 against the greenback.
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