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Forex pairs in this Article » USD/JPY
FXStreet (Guatemala) - Strategists at Rabobank noted that the JPY slid straight from 101.80 to 102.70 on the BoJ action but was back at 102.40 this morning.

Key Quotes:

“The Nikkei roared up 3.1% yesterday after the BoJ, which had been so upbeat in its recent assessment of the economy, opted to extend its bank loan support scheme: it was only a tiny change relative to its monthly JGB purchases but for the market there was hope of more to come”.

“Certainly, the cycle of ‘optimism-economic reversal-BoJ/government has to act’ is hardly a new one in Japan, and we had already had the first two acts of that particular kabuki drama”.

“Other equity markets were less impressed, of course, with Euro Stoxx -0.1% and S&P +0.1% on the day”.

“ It seems the BoJ may have to up the ante even further if it wants to push the JPY lower near term”.
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