USD/JPY jumped sharply higher – Bank of Japan maintains its policy stance

The Bank of Japan held policy steady, no change to sort term rates or YCC.

USD/JPY jumped sharply:

Ultra-loose policy for the BOJ, and tightening elsewhere, has been the driver of a much weaker yen over past years. Speculation has risen in recent weeks that the Bank is nearing a pivot to reduce its policy accommodation. But, as we see from the Bank today, not yet.

This article was written by Eamonn Sheridan at Source