Bank of Japan ends negative interest rates

Source: Dukascopy Bank SA


The Bank of Japan has hiked its base interest rate from the -0.10 rate up to +0.10. This it he first rate hike in Japan in 17 years. The event has ended the eight years of negative interest rates in Japan.

However, instead of an expected surge of the Japanese Yen. The Yen shortly surged, before resuming the previous decline. USD/JPY currency exchange rate dipped to 149.00 on the event. Afterwards, the pair moved higher and eventually passed above 150.50.

In the meantime, Japanese stocks reacted to the news by initially increasing volatility, prior to testing the 40,000.00 mark which turned into resistance.

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