Daily Report: Yen Remains Firm While Dollar Stays in Range

20 November 2009 @ 07:08 am EDT

Yen remains firm today on broad based weakness in Asian stocks with Nikkei down another -0.54% to close at 0.9497. BoJ left rates unchanged at 0.1% as widely expected. The bank raised economic assessment and said that recovery is picking up due to various policy measures taken at home and abroad. Nevertheless, a "self-sustaining recovery" remains weak. Nevertheless, Japan Deputy Prime Minister Naoto Kan urged BoJ to extend support on monetary policy front in overcoming deflation or falling prices could pose risks to sustainable recovery.

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