Japanese Yen appreciates on BoJ Monetary Policy Statement

The Japanese Yen has been appreciating against the US Dollar since Monday, April 27. The USD/JPY currency pair has already lost 1.16% or 125 pips.  

The reason for the drop is the Japanese Monetary Policy Statement release on Monday at 3:08 GMT. The Bank of Japan announced it would extend the maximum amount of corporate bonds and commercial papers it purchases. The purchase now totals ¥20B ($188B). 

Also, the Policy Board of the Bank decided to maintain the BoJ Policy Rate unchanged at negative 0.10%.