We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
GBP/USD
Mixed
USD/JPY
Mixed
Gold
Mixed
Oil - US Crude
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Bitcoin
Bearish
More View more
Real Time News
  • Heads Up:🇬🇧 GBP Employment Change 3M/3M (DEC) due at 09:30 GMT (15min), Actual: N/A Expected: 170k Previous: 208k https://www.dailyfx.com/economic-calendar#2020-02-18
  • Heads Up:🇬🇧 GBP ILO Unemployment Rate 3Mths (DEC) due at 09:30 GMT (15min), Actual: N/A Expected: 3.8% Previous: 3.8% https://www.dailyfx.com/economic-calendar#2020-02-18
  • Heads Up:🇬🇧 GBP Weekly Earnings ex Bonus (3M/YoY) (DEC) due at 09:30 GMT (15min), Actual: N/A Expected: 3.3% Previous: 3.4% https://www.dailyfx.com/economic-calendar#2020-02-18
  • Heads Up:🇬🇧 GBP Average Weekly Earnings (3M/YoY) (DEC) due at 09:30 GMT (15min), Actual: N/A Expected: 3.0% Previous: 3.2% https://www.dailyfx.com/economic-calendar#2020-02-18
  • Heads Up:🇬🇧 GBP Jobless Claims Change (JAN) due at 09:30 GMT (15min), Actual: N/A Expected: N/A Previous: 14.9k https://www.dailyfx.com/economic-calendar#2020-02-18
  • Heads Up:🇬🇧 GBP Claimant Count Rate (JAN) due at 09:30 GMT (15min), Actual: N/A Expected: N/A Previous: 3.5% https://www.dailyfx.com/economic-calendar#2020-02-18
  • Heads Up:🇬🇧 GBP Output Per Hour (YoY) (4Q P) due at 09:30 GMT (15min), Actual: N/A Expected: N/A Previous: 0.1% https://www.dailyfx.com/economic-calendar#2020-02-18
  • Japanese Yen May Add to Gains, Walmart Eyed After Apple Shock - https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/euro_open/2020/02/18/Japanese-Yen-May-Add-to-Gains-Walmart-Eyed-After-Apple-Shoc.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Spivak&utm_campaign=twr #Apple #Walmart #USDJPY #JPY #coronavirus https://t.co/ESAG7nsrjf
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.74%, while traders in Germany 30 are at opposite extremes with 81.11%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/9nVQ63GHTz
  • Commodities Update: As of 08:00, these are your best and worst performers based on the London trading schedule: Silver: 0.59% Gold: 0.49% Oil - US Crude: -1.58% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/KecsJfEneA
Yen Soars as Bank of Japan Leaves Monetary Policy Unchanged

Yen Soars as Bank of Japan Leaves Monetary Policy Unchanged

2016-04-28 04:08:00
Daniel Dubrovsky, Analyst
Share:

Talking Points

  • Bank of Japan maintains policy balance rate at -0.10% as expected
  • Japanese Yen gains versus its major peers, Nikkei 225 futures tumble
  • Lack of further stimulus expansion clues likely inspired risk aversion

Having trouble trading the Japanese Yen? This may be why.

The Japanese Yen strengthened across the board and Nikkei 225 futures tumbled amid risk aversion as the Bank of Japan left monetary policy unchanged. The central bank voted 8 to 1 to keep its monetary base target unchanged at ¥80 trillion yen. While economists were not expecting the BOJ to adjust its monetary policy heading into the announcement, investors have speculated on greater easing since last week, delivering the largest one-day Yen drop in 18 months.

Bank of Japan members stated that their 2017 fiscal year outlook for core CPI is 1.7 percent and 1.9 percent for 2018. The committee forecasted that CPI will hit the 2 percent target some time in 2017 and retail prices should remain 0 percent for the time being. With the BOJ giving no clues towards any imminent easing, the markets appeared to respond to the news with risk aversion.

Meanwhile, the DailyFX Speculative Sentiment Index (SSI) is showing a reading of 2.0 following the announcement, meaning that for every trader short the USD/JPY, there are 2 on the long side. The SSI is a contrarian indicator, implying further USD/JPY weakness ahead.

Want to learn more about the DailyFX SSI indicator? Click here to watch a tutorial.

Yen Soars as Bank of Japan Leaves Monetary Policy Unchanged

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.