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

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)
Comments (7)
  • 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
  • Yes, how do you see dow in a couple of weeks?
    14 Feb 2012, 03:02 PM Reply Like
  • 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
  • Unexpectedly? What would be unexpected would be if they didn't ease.
    14 Feb 2012, 05:24 AM Reply Like
  • 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
  • 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
  • "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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