Yen rises despite BoJ announcement
Reuters reports the latest announcement from the Bank of Japan (BoJ) has signalled there is likely to be no further monetary easing in the country over the foreseeable future, but this has not stopped the yen from making a marginal improvement as investors believe future action will be taken.
Individuals learning to be a trader have this morning (April 10th) witnessed a fall and subsequent rally for the Japanese yen against the US dollar.
At the end of Asian trading today, the yen was up by 0.1 per cent against the greenback at 81.41.
Koji Fukaya, chief currency strategist at Credit Suisse in Tokyo, told the news provider: "The market is expecting further easing from the BoJ at some point in April and this is keeping the yen broadly under pressure."
The yen has fallen in forex trading against many of its rivals so far this year and this has had the result of boosting Japanese exports, which in turn has helped Japan's blue chip index the Nikkei to post its best first-quarter results in 24 years - rising by almost 19 per cent from the start of 2012.
Posted by Greg Secker
- Knowledge to Action News
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