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Forex News: Yen Mixed After BoJ Announcement

Yen Mixed After BoJ Announcement

12/19/2019 - 00:40:00 (RTTNews)

(RTTNews) - The yen showed mixed trading against its major counterparts in the Asian session on Thursday, after the Bank of Japan left its massive monetary stimulus unchanged and maintained its upbeat assessment on economy.

The central bank maintained the interest rate at -0.1 percent on current accounts maintained by the financial institutions.

The bank maintained it yield target for 10-year Japanese government bonds at around zero percent.

Further, the bank will purchase JGBs in a flexible manner so that their outstanding amount will increase at an annual pace of about JPY 80 trillion.

The BoJ reiterated that it will not hesitate to take additional easing measures if there is a greater possibility that the momentum toward achieving the price stability target will be lost.

The yen traded mixed against its major rivals on Wednesday. While it held steady against the greenback and the franc, it rose against the pound and the euro.

The yen rebounded slightly to 109.56 against the greenback, from an early 3-day low of 109.68, and held steady thereafter. The pair had finished Wednesday's deals at 109.54.

After rising to a 3-day high of 121.69 against the euro at 5:00 pm ET, the yen retreated and held steady thereafter. At Wednesday's close, the pair was worth 121.73.

The yen fell to an 8-1/2-month low of 111.85 against the franc and traded steadily thereafter. The pair was quoted at 111.72 at Wednesday's close.

The Japanese currency reached as low as 143.48 against the pound before holding steady in later deals. The pair had ended yesterday's trading session at 143.25.

Looking ahead, Swiss trade data for November is due out at 2:00 am ET.

U.K. retail sales for November are slated for release in the European session.

At 7:00 am ET, the Bank of England announces its interest rate decision. Economists widely forecast the benchmark to remain at 0.75 percent and asset purchase program at GBP 435 billion.

In the New York session, Canada wholesale sales for October, U.S. weekly jobless claims for the week ended December 14, existing home sales and leading index for November will be featured.

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