The Nikkei is +0.6% and the dollar +0.5% to ¥77.98 after the Bank of Japan unexpectedly added...

The Nikkei is +0.6% and the dollar +0.5% to ¥77.98 after the Bank of Japan unexpectedly added ¥10T ($128B) to its asset-purchase program. In setting an explicit price stability "goal" (as opposed to an "understanding"), BoJ is targeting 2% or lower in the CPI in the medium-to-long-term and 1% for now. (BOJ statements)

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Comments (7)
  • SA reader
    , contributor
    Comments (176) | Send Message
    This is definitely bullish for the US Dollar and bearish for commodity stocks. Based on the strong dollar and the lack of approval of Greek's deal could make for a nasty Tuesday for stocks.
    14 Feb 2012, 02:44 AM Reply Like
  • mikety
    , contributor
    Comments (40) | Send Message
    Yes, how do you see dow in a couple of weeks?
    14 Feb 2012, 03:02 PM Reply Like
  • Oguz Erkol
    , contributor
    Comments (115) | Send Message
    Owing to these news, everybody may be long USD/JPYand unless you have your position until now, then you are too late for it. Just wait for a retracement. You know, every spurt is followed by a retracement in the market.
    14 Feb 2012, 05:24 AM Reply Like
  • Michael Clark
    , contributor
    Comments (11968) | Send Message
    Unexpectedly? What would be unexpected would be if they didn't ease.
    14 Feb 2012, 05:24 AM Reply Like
  • mickmars
    , contributor
    Comments (1312) | Send Message
    Look for the Fed to "unexpectedly" print more dollars soon to match the Yen. It's just a race to the bottom for all developed currencies.
    14 Feb 2012, 07:38 AM Reply Like
  • Robin Hewitt
    , contributor
    Comments (5671) | Send Message
    The Yen dropped. That's good news for Japanese manufacturers like Toyota, Sony, Toshiba, etc. That crazy, strong Yen was really hurting them.
    14 Feb 2012, 01:46 PM Reply Like
  • Economic Analyst
    , contributor
    Comments (3854) | Send Message
    "the Board decided to set a goal at 1 percent for the time being to clarify the inflation rate which the Bank's monetary policy aims to achieve."


    Seems a rather modest proposal, and reasonable as well.
    14 Feb 2012, 02:51 PM Reply Like
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