BoJ beats down the Yen

Source: Dukascopy Bank SA


On Monday, the Bank of Japan was the cause of an all-out decline of the value of the Japanese Yen. The USD/JPY surged more than 150 base points or 1.20% during Monday's first half of trading.

The central bank decreased its economic forecasts for eight out of nine regional economies. The Governor of the Bank Haruhiko Kuroda stated that the Japanese economy faces uncertainty due to the war in Ukraine. In addition, the BoJ issued a warning about potential high JPY volatility.

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