Japanese Yen drops on Monetary Policy Statement

During Wednesday's trading session, the Japanese Yen depreciated significantly against the US Dollar by 39 pips or 0.35%.

According to experts, the drop was driven by Monetary Policy Statement of the Bank of Japan. The Bank decided to maintain the interest rate at the negative 0.10% level. 

Also, for the first time the Bank of Japan announced precisely that it would not hike the rate until spring 2020. Most likely, Japan's central bank is concerned about slower global economic growth and inability to reach its 2% inflation objective.