The USD/JPYT pair has been growing for the second consecutive trading session as the market pays no attention to the BoJ’s meeting results.
The Japanese Yen is getting weaker against the USD on Friday. The current quote for the instrument is 111.17.
During the June meeting, the Bank of Japan left the main aspects of its monetary policy unchanged. The key rate remained at -0.1%, as expected. The QE program didn’t change as well; it is still ¥80T.
The comments that followed the meeting were more optimistic estimations of economic processes than earlier. For instance, the regulator believes that the country is growing moderately and says that the private consumption sector is reviving.
So, if one is talking about improvement in the private consumption, it means that the situation with employment and salaries is positive.
Once the QE program hasn’t changed so far, today’s comments don’t mean a lot for the Yen. The “hottest potato” right now is the behavior of the USD, which is getting stronger against many currencies and the Yen is forced to retreat. At the moment, the USD/JPY pair is moving towards its two weeks’ highs and, probably, may continue growing slowly at the beginning of the next week.
RoboForex Analytical Department