FXstreet.com (Córdoba) - The Dollar failed to break above 89.90 and after the opening bell at Wall Street the Yen gain momentum. USD/JPY fell sharply and quickly from 89.60 to test levels below 89.00, near intra-day low that lies at 88.81. The pair was rejected from those levels and currently it trades at 89.20/25, 0.50% below today's opening price action.
Flemming J. Nielsen, analyst at Danske Bank comments on the monetary policy decision of the Bank of Japan (BoJ): As expected, has left its leading interest rate unchanged, but is more upbeat on the economy. It now believes the economy is recovering and it will probably raise its official forecast for GDP growth at the next monetary meeting. BoJ did not suggest imminent plans to exit some of its quantitative easing (QE) programmes. The size of QE has been modest in Japan and exit for that reason should be less complex than in the US and Europe and with little market impact.