BOJ Monetary Policy Same Yen Falls, Euro Unchanged

The BOJ has postponed any timeframe of raising rates even though they have raised the economic growth forecasts, sending the yen to slide against the dollar. While in Europe the focus is on the ECB forecast leaving the euro unchanged.

The yen fell against the dollar up 0.18 percent to 112.14 following the BOJ decision to keep their monetary policy steady with a figure of 2 percent inflation target in mind.

Branch manager for State Street Bank in Tokyo, Bart Wakabayashi feels that the dollar/yen is on a rate-hiking curve, following the announcement of the BOJ that they have in mind a 2 percent inflation figure which they will hit.

The euro was unchanged against the dollar on Thursday as markets look to the European Central Bank for fresh news. The comments made by ECB President Mario Draghi last month that if there were any changes to their stimulus program it would be cautious and gradual, gave the euro a boost.

The euro was trading at 1.1510 against the USD.

The dollar came under pressure with the US dollar index, which measures the greenback against a basket of six major currencies gained 0.15 percent to 94.78. Speculation that the Fed may join other central banks in policy tightening and the difficulties of the Republicans to reform the healthcare bill as well as overhauling the tax code has all put the dollar under pressure.

Following the release of the Aussie upbeat domestic job report, the Australian dollar fell to AUD/USD 0.7828 slipping 0.28 percent from a high of 0.7888.

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