Yen strengthens as BoJ rates remain the same

Tuesday, 12 July 2011 11:53

The Bank of Japan announced its overnight call rate earlier today, which remained the same between 0 and 0.10% as predicted. 

BoJ Interest Rate Press Conference a little after the overnight call rate announcement stated that Japan is pacing up "with an easing of the supply constraints caused by the earthquake". 

The Japanese currency, Yen, gained strength after the releases.  USD/JPY begun to fall from its trading price of 80.13, as far as 79.40.  Currently, the pair is trading at 79.58.