Yen Gains as Politicians Divided About BoJ Leadership
The Japanese yen advanced today on signs that nation’s politicians are divided about leadership of the central bank, raising speculations that additional stimulus may be postponed.
Some opposition parties voted against deputy governor nominee Kikuo Iwata. Others were against the nomination of Haruhiko Kuroda as the Bank of Japan Governor. The division about the future leadership of the central bank means that the additional accommodative measures will likely be implemented later rather than sooner.
USD/JPY fell from 96.06 to 95.77 and EUR/JPY went down from 125.20 to 124.60 as of 12:15 GMT today.
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Earlier News About the Japanese Yen:
- AUD/USD Rises Despite Falling Business Confidence, AUD/JPY Retreats (2013-03-12)
- Threat of Interventions Continues to Weaken Yen (2013-03-12)
- Japanese Yen Heads Lower as Forex Traders Consider New BOJ Head (2013-03-08)
- Yen Drops Even as BoJ Leaves Policy Unchanged (2013-03-07)
- Threat of Intervention Does Not Stop Yen's Rally (2013-03-05)