September 18, 2012
Talk about starting off on the wrong foot! The yen scored losses across the board in yesterday's trading. USD/JPY ended the day 38 pips higher at 78.75 while EUR/JPY was up 42 pips at 103.22 by the New York session close.
Speculations about intervention from the BOJ dominated the yen's price action. With the central bank starting their 2-day meeting today, I wouldn't be surprised to see the currency react strongly to rumors about potential action from the bank.
So be on your toes! Tomorrow at 12:00 am GMT, the BOJ will be under the spotlight when it finally announces its monetary policy decision. Brace yourselves! Should the Japanese intervene or drop hints that they would soon resort to it, we could see the yen give up more pips to its counterparts.
Last edited by PipDiddy; 09-18-2012 at 03:19 AM.
"The only cable I watch is the pound baby."