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The dollar drops below ¥78 as the BOJ's launch of QE8 (by some calculations) last week...

  • Monday, September 24, 2012, 11:54 AM ET
    The dollar drops below ¥78 as the BOJ's launch of QE8 (by some calculations) last week succeeded in weakening the yen for only a few minutes. The BOJ is ready to take further steps, says Deputy Governor Yamaguchi. He takes care to note the yen's value is not part of the BOJ mandate, but the bank is keeping a close eye on it.
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    Major JPY crosses are down >0.3%...the Yen is still being sought as a safe haven over other currencies, at least in today's session and previous day sessions since the announcement. QE9? Japan is still a major creditor nation, probably the reason for the persistent strength.
    24 Sep 2012, 11:59 AM Reply Like
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