JPY Daily News

USD/JPY Bearish after Japan Holds Rates and Purchasing Program Steady

The USD/JPY has been trading lower recently as investors flee the greenback on the coattails of the Fed's monetary policy statements. After reaching upwards of 82.75 on Tuesday, the pair quickly dropped to a daily low of 81.61 Wednesday, and dipped farther in Thursday's sessions after the Bank of Japan (BOJ) decided to hold rates steady and maintain present levels in its Asset Purchasing Program.

While the yen suffers from its own economic concerns, shifts in consumer sentiment have helped lift yen values against a number of its rivals. The pair also looks to be continuing this movement for the foreseeable future given the massive shift away from the US dollar. As the week comes to a close, traders shouldn't see much change in JPY values directly correlated with its own economic news. As global investors digest the impact that the recent sell-off in US dollars will have on their portfolios, we should look to some stability and consolidation prior to this week's closing.

Current Time: 05/26 23:41 GMT

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