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USD/JPY swings back beyond 111.00 on BoJ’s Kuroda
The USD/JPY rebound from near 110.50 levels gained traction, following BoJ Governor Kuroda’s dovish remarks, now pushing the rates further northwards in a bid to test yesterday’s high of 111.22. The Yen lost footing and gave up the entire gains spurred by the BoJ’s optimistic remarks about inflation expectations while the Japanese central bank left its monetary policy settings unchanged at its meeting held earlier today. The renewed sell-off in the Yen is mainly triggered by the BoJ Chief Kuroda’s comments, after he said that the BoJ is not in a situation to consider an exit from QQE, adding that the need to ... (full story)