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Japanese Yen Mixed After BoJ Meeting

October 31, 2018 at 14:00 by Vladimir Vyun

The Japanese yen was mixed today, falling against some of its major rivals but rising against others. The Bank of Japan concluded its two-day policy meeting today and released its economic projections.

The Bank of Japan left its monetary policy unchanged, surprising no one, with the main interest rate remaining at -0.1% and the size of asset purchases staying the same. The central bank made some downward revisions to its economic projections. In particular, the bank lowered its inflation forecast for this year from 1.1% to 0.9%.

As for macroeconomic reports, industrial production fell 1.1% in September from the previous month, seasonally adjusted, versus the 0.3% drop forecast by analysts. The Consumer Confidence Index fell to 43.0 in October from 43.4 in September instead of rising to 43.5 as experts had promised.

USD/JPY rose from 113.09 to 113.27 as of 13:50 GMT today. EUR/JPY fell from 128.28 to 128.17 after rising to 128.54 earlier. GBP/JPY jumped from 143.71 to 144.47.

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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