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JPY Daily News
No Changes Expected from the BoJ
The Bank of Japan concludes their two day policy meeting and no policy change is expected. Given that the BoJ loosened monetary policy at their October meeting by increasing its asset purchase program and the better than expected Q3 GDP numbers the BoJ will likely continue to emphasize its resolve to support the Japanese economy and fight JPY strength.
The JPY continues to rise both against the USD and in the crosses as traders seek out safe havens given the European debt crisis. The most recent COT IMM data shows speculators increased their long JPY positions versus the USD despite the threat of intervention from the Ministry of Finance. Support for the USD/JPY is found at Monday's low of 76.80 followed by the all-time low at 75.55. Resistance comes in at Monday's high of 77.50.
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Print| # | Time | $€£¥ | Event | Per. | Prev. | Fore. | Act. | Imp. |
|---|---|---|---|---|---|---|---|---|
| 11/16 | ||||||||
| 03:00 | JPY |  Monetary Policy Statement | * | * | * |  | ||
| 03:00 | JPY | Overnight Call Rate | <0.10% | <0.10% | <0.10% | | ||
| 03:00 | JPY | BoJ Press Conference | * | * | * | | ||
