Source: ForexYard
The Japanese Yen made gains over the greenback early Tuesday as the Bank of Japan decided to keep its rate on hold between zero to 0.1% and withstood to mention anything regarding further policy easing.
The dollar bought 81.28 Yen this morning whilst Monday’s trading saw the greenback buy at 81.65, clear indication of the Yen’s upward move.
Japanese Prime Minister Yoshihiko Noda stated yesterday that the government will hold specific meetings to come up with plans to overcome deflation as policy makers discuss ways to put an abrupt end to price declines.There is a possibility that the meetings could start this month.
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