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Yen flipped to gains on eventless BOJ, UK CPI, ZEW – Next in focus

By FXStreet FXStreet (Mumbai) – The Bank of Japan (BOJ) left its monetary policy setting unchanged at its monetary policy decision held today, squashing hopes of many doves, who widely anticipated more hints on further easing this October.

Key headlines in Asia

BoJ leaves policy unchanged as expected

Nikkei 225: Nasty risk-off turnaround wipes early gains

RBA minutes: Steady rates appropriate, outlook remains data-dependent

Dominating themes in Asia – centered on JPY, AUD, NZD

A major rebound in risk-off sentiment was seen in Asia following the BOJ decision, with most Asian indices falling deeper into the red. While the Nikkei pared gains after the yen strengthened on the back of BOJ rates on hold stance and also on intensifying risk-off trades.

The Japanese yen erased losses and swung back higher against the US dollar as the BOJ stood pat on its policy decision, playing down expectations for further expansion of the QQE program. USD/JPY slipped from around 120.35 region and dipped to 119.92 lows post BOJ, only to recover slightly to now trade near 120.10, recording a -0.10% loss so far.

The Antipodean currencies halted their recovery mode and fell back into the negative territory as the turnaround in the risk-sentiment hurt the demand for higher …read more

Source:: FX Street

      

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