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BoJ Concludes Policy Meeting, Yen Little Changed

September 5, 2013 at 3:34 by Vladimir Vyun

1,000 yenThe Japanese yen traded sideways today, attempting to rise after the Bank of Japan concluded its September policy meeting and left monetary policy unchanged, refraining from additional easing.

The BoJ held a meeting today and the accompanying statement revealed no changes to policy. The central bank noted:

Japan’s economy is recovering moderately. Overseas economies as a whole are gradually heading toward a pick-up, although a lackluster performance is partly seen. In this situation, exports are generally picking up.

The bank added that “Japan’s economy is expected to continue a moderate recovery”, but “there remains a high degree of uncertainty concerning Japan’s economy”. As a result, “the Bank will continue with quantitative and qualitative monetary easing, aiming to achieve the price stability target of 2 percent”.

USD/JPY traded near the opening level of 99.70 as of 3:34 GMT today. EUR/JPY was down a little from 131.68 to 131.54 and GBP/JPY slipped from 155.80 to 155.73.

If you have any questions, comments, or opinions regarding the Japanese Yen, feel free to post them using the commentary form below.

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