The Japanese Yen hit its lowest level against EUR today for the first time since 2008. The fresh rally in EURJPY comes in response to the latest BOJ meeting overnight. The bank once again held headline policy unchanged, reaffirming its commitment to easing, despite making a further adjustment to its YCC program. The bank announced the removal of 1% as the upper ceiling on its YCC program, though it will keep 1% as a reference level. Additionally, the bank announced an end to its fixed daily bond purchases. Both moves give the bank greater freedom but have increased uncertainty for JPY traders. Downside Risks for JPY ... (full story)