When is the BOJ rate decision and how could it affect USD/JPY? – by anilpanchal7 BOJ USDJPY Events YieldCurve CentralBanks
rming. Following the rate decision, BOJ Governor Haruhiko Kuroda will attend the press conference, around 06:00 AM GMT, to convey the logic behind the latest policy moves.
Japanese policymakers have already turned down the expectations of any major moves from the Bank of Japan . However, the previous day’s announcement of bond-buying and talks of the town supporting the official push for market intervention keep the USD/JPY traders hopeful of a pullback.towards an upward-sloping support line from early August, near 143.80. However, the risk-off mood and firmer USD, as well as fewer odds of the BOJ’s hawkish mood, are likely to favor the USD/JPY buyers.
BoJ Interest Rate Decision is announced by the Bank of Japan. Generally, if the BoJ is hawkish about the inflationary outlook of the economy and rises the interest rates it is positive, or bullish, for the JPY. Likewise, if the has a dovish view on the Japanese economy and keeps the ongoing interest rate, or cuts the interest rate it is negative, or bearish.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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