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USD/JPY up on BOJ press-conference

USD/JPY has broken above the 100.60 resistance and touched 100.80 post the Bank of Japan (BOJ) press-conference. 

Bullet points of the Kuroda's comments are cited below:

  • Japan’s economy moving in line with forecasts so it’s too early to talk of any specific steps;
  • BOJ still has steps available to respond to upside, downside risks;
  • BOJ wants to monitor the market moves as markets coulds react to monetary policy changes;
  • The bank sees no change in trend of robust consumer spending;
  • BOJ expects Japanese lending to graually increase as QE helps economy improve;
  • BOJ expects US economy to pick up as downward pressure from fiscal stand-off decreases;
  • Outlook for overseas economies is brightening somewhat due to US/EU recoveries;
  • Some nations, inc some in Europe may be in deflationery phase;
  • China’s economy is likely to sustain stable growth, domestic demand is very strong;
  • BOJ doesn't see big risk of sharp worsening in emerging economies.

Chart. Daily USD/JPY


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