JPY Daily News

BOJ Lowers Interest Rates; USD/JPY Still Falling

The surprising move by the Bank of Japan (BOJ) yesterday to lower interest rates from their record low of 0.10% has done little to support the JPY. In fact, the island currency persists in rising against a number of its primary counterparts. The USD/JPY is testing the BOJ's intervention price level of 83.00, while the GBP/JPY also remains in a downtrend with a current price of 132.33.

Expectations for the moment seem to suggest that further BOJ intervention is on the way, but the market awaits Friday's Non-Farm Payroll (NFP) data from the United States. Central banks may therefore be hesitant to make any serious moves on monetary policy until the market absorbs the reaction from this week's interest rates and employment data from the world's largest economies. It seems fair to suggest that most of these major currencies will not move too sharply in the next few days until Friday's NFP release.

Current Time: 05/27 00:38 GMT

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#	Time	$€£¥	Event	Per.	Prev.	Fore.	Act.	Imp.
10/06
	06:00	JPY	BoJ Monthly Report		*	*	*