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Japanese Yen Soft Even as BoJ Discusses Stimulus Exit

April 3, 2018 at 16:41 by Vladimir Vyun

1,000 and 10,000 Japanese yen notesThe Japanese yen fell against its most-traded rivals today even as the Bank of Japan was discussing internally an exit from unprecedented monetary stimulus. Some currencies, though, have trimmed their gains against the yen by now.

Governor Haruhiko Kuroda said that BoJ members were discussing stimulus exit among themselves:

Internally we’re conducting various discussions.

Yet he stated that releasing details of such talks to the public would be inappropriate as it may cause confusion on markets. Furthermore, he stressed that 2% inflation remains the main goal for the central bank, and stimulus will remain in place until it will be reached.

USD/JPY rallied from 105.88 to 106.44 as of 16:35 GMT today. EUR/JPY was up from 130.26 to 130.57, and its daily high was at 130.92.

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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