USD/JPY: Japanese Monetary Policy Statement

The US Dollar depreciated against the Japanese Yen, following the Japanese Monetary Policy Statement data release on Tuesday at 02:55 GMT. The USD/JPY exchange currency rate lost 11 pips or 0.11% right after the release. The Greenback continued trading at the 108.70 level against the Japanese Yen.

The Bank of Japan released the Japanese Monetary Policy Statement data, where the Japanese policymakers provide in-depth insights into the economic and financial conditions that influenced their vote on where to set interest rate. Note, that the BOJ Outlook Report was published at the same time.

According to the official release: "Japan's economy is likely to continue on an expanding trend throughout the projection period -- that is, through fiscal 2021 -- despite being affected by the slowdown in overseas economies for the time being."