USD/JPY choppy after Bank of Japan holds policy

Posted On 30 Oct 2015

Tag: AUDNZD, AUDUSD, EURGBP, NZDUSD, USDCHF, USDJPY

The Bank of Japan left monetary policy unchanged on Friday, causing a knee-jerk reaction in the yen and it fell down to 120.29, before surging later. USD/JPY eased from a 121.18 high to 121.14 early, then to the 120.80 area pre-BoJ. The pair then surged to 121.50 on talk of BoJ economic forecasts.

EUR/JPY swung from 132.30 to 133.39, GBP/JPY from 184.55 to 185.97.

EUR/USD was bid and rose to 1.0998 before tapering off to 1.0965.

EUR/GBP was soggy, trading from 0.7176 to 0.7162, while EUR/CHF was steady between 1.0861-71.

GBP/USD was up early alongside EUR/USD to 1.5338 before easing back to 1.5308.

USD/CHF was steady between 0.9881-0.9903 in Asia.

AUD/USD opened in Asia at 0.7068, moved up from 0.7067 to 0.7118.
News from China that the one-child policy ended also helped aussie as China is a major trading partner.

NZD/USD closed at 0.6692 in New York, remained steady to bid in Asia, 0.6691 to 0.6758. AUD/NZD traded from 1.0575 to 1.0526.

Looking ahead, focus will be on Eurozone flash CPI data.

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Source:: USD/JPY choppy after Bank of Japan holds policy

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