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JPY Daily News
Yen Weakens on Surprise Interest Rate cut
Tuesday, 5 Oct 2010
The Japanese Yen weakened against the U.S. dollar following a surprise reduction in the interest rate during the Bank of Japan policy and enacting of further credit easing measures. The bombshell announcement allowed for gains in the yen versus the major currencies and a reversal of the negative sentiment.
The USD/JPY rose to a high of 83.97 in today's early Asian trading from 83.36 in New York yesterday, Japan's currency is trading at 114.79 per EUR from 114.08.
The overnight call rate was reduced below 0.10%. Few analysts predicted the BOJ would cut the rate from 0.10%. The speculations surrounding the policy statement will surely make the Yen one of the most exciting currencies for trading today.
Current Time: 05/27 05:45 GMT
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Print| # | Time | $€£¥ | Event | Per. | Prev. | Fore. | Act. | Imp. |
|---|---|---|---|---|---|---|---|---|
| 10/05 | ||||||||
| 01:00 | JPY |  Monetary Policy Statement | * | * | * |  | ||
| 01:00 | JPY | Overnight Call Rate | 0.10% | 0.10% | <0.10% | | ||
| 01:00 | JPY | BoJ Press Conference | * | * | * |  | ||
