No Changes In The Size of Current Quantities Easing

At the Central Bank of Japan, the meeting of monetary board has just announced no change in the size of the current quantities easing by buying bonds from market. In USA, shrinking of quantities easing has announced as a prediction, so, Yen also went higher this week.

The Cabinet of Prime Minister Shinzo Abe approved a growth plan which gave Yen a higher fly. The currency of Japan got fourth straight weekly gain against the US Dollar and it was longest since the time of July 2012. Government of Abe said to the BOJ to act to ease the bond volatility. Euro also took a rise versus major counterparts.

The reason behind the rise of Yen is the failure of BOJ to contain the bonds yields of Japan. Senior Portfolio manager in Tokyo at MassMutual, Hiroshi Yoshida said that the yen may get a gain much as 90 Yen per US dollar in the upcoming month.

Rate Range Projection by Bank

Next Week : 93.00 - 98.50

Next 3 Months : 92.00 - 102.00