Watch More: Dukascopy TV
The USD/JPY exchange rate depreciated 23 base points to the 110.68 level, following the BoJ monetary policy statement and the outlook report. Though, the pair managed to recover in the next couple of hours to be above the 111.00 mark, as the Bank's Governor made dovish remarks, sending rate higher.
The Bank of Japan kept the interest rate unchanged at a negative 0.10%, as widely anticipated, offering a more optimistic view on consumer inflation projections, underscoring the conviction that the Japan economy was making moderate, but steady progress to the 2% CPI growth target. Later, the BoJ Governor Haruhiko Kuroda indicated that the Bank was not in a position to consider the QEE quit.
| Historical Data Table: BoJ Interest Rate | Economic Calendar for 23.01.2017 | ||||||||
| Date | 20.07.2017 | 21.09.2017 | 30.10.2017 | 21.12.2017 | 23.01.2018 | 10:00 AM | ZEW Economic Sentiment | ||
| Actual | -0.10% | -0.10% | -0.10% | -0.10% | -0.10% | 3:00 PM | Richmong Manufacturing Index | ||
| Forecast | -0.10% | -0.10% | -0.10% | -0.10% | -0.10% | 11:50 PM | Japan Trade Balance | ||
| Initial Reaction on Main Pairs | SWFX Sentiment Indexes | ||||||||
| Open Price | Close Price | % Change | Longs | Shorts | |||||
| AUD/JPY | 88.707 | 88.553 | -0.17% | AUD/JPY | 64.77% | 35.23% | |||
| CAD/JPY | 89.036 | 88.881 | -0.17% | CAD/JPY | 62.49% | 37.51% | |||
| EUR/JPY | 135.966 | 135.749 | -0.16% | EUR/JPY | 40.19% | 59.81% | |||
| USD/JPY | 110.908 | 110.682 | -0.20% | USD/JPY | 53.59% | 46.41% | |||