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Yen goes up to multi-month peaks

On Thursday, the Japanese yen soared to multi-month peaks against its counterparts because the Bank of Japan’s verdict to hold fire helped short-term traders to purchase the Japanese yen. 

During Asia trade, the greenback fell to ¥104.50 yen, the lowest outcome since September 2014. In New York, the major US currency was worth ¥104.15 yen, which is steeply lower than Wednesday’s reading of ¥106.00.   

The common currency slumped to ¥117.88,the lowest value since January 2013, before heading further south to ¥117.50 , in Tokyo. On Wednesday, it traded at ¥119.36. Apart from that, the Japanese yen dared to ascend against the British pound and Aussie.   

As previously expected, on Thursday, the BOJ voted to leave its annual asset-purchase target intact, currently accounting for 80 trillion yen a year. As for the deposit rate, it’s also steady at -0.1%.

BOJ officials had signaled they would hold fire ahead of a June 23 British referendum on whether to break up with the European Union or not. 

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