XE Market Analysis: North America – Dec 20, 2016

USD-JPY and yen crossers were at the fulcrum of activity in thinning year-end markets as the yen came under pressure into and after the BoJ’s announcement of unchanged policy, with bank governor Kuroda ruling out a reduction in ETF purchases during his post-meeting press conference. There had been some speculation that the BoJ might have hinted at tapering given the weakness in the yen and rebound in oil prices, trends which are reversing two principal drivers of disinflation in Japan. USD-JPY clocked a two-session high at 118.24, up from yesterday five-session low at 116.55, before settling in the upper 117s,…

Source: XE news feed
XE Market Analysis: North America – Dec 20, 2016