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Forex pairs in this Article » AUD/USD, EUR/USD, USD/JPY (Barcelona) - As widely anticipated, the Japanese Yen was the star of the Asian session, being highly volatile after the BoJ officially adopted a 2% inflation target mandate - to be achieved as soon as possible - while also committing to open-ended asset purchases in the tune of 2 trillion yen in JGBs monthly starting January 2014. The vote stood at 7-2.

The Yen, which was first dumped on the news to get as cheap as 90.05 USD, managed to recover all the ground lost vs G10 currencies, taking the USDJPY spot rate as low as 88.90. The USD was the worst performer, sold out across the board. Both, the Aussie and the Kiwi, had a very respectful session too. editor Ivan Delgado notes: "One of the underlying reasons of this aggressive downmove, could be that despite the BoJ has communicated a change in strategy to now pursue open-ended bond buys, there is no additional purchases of ETFs or REITs by BOJ until early 2014, thus no real change in policy for the next 12 months. Also the Yen positioning was extreme short, which suggest a return to a point of equilibrium in USDJPY, be it the 20-day EMA or other level of focus."

Main headlines in Asia (in chronological order)

- Jeroen Dijsselbloem, appointed new head of the Eurogroup

- S&P affirms Portugal's 'BB/B' ratings: Outlook remains negative

- Best case for USDJPY is an open-ended QE - Westpac (looks like they were not accurate...)

- USDJPY shouldn't trade significantly above 90.00; BoJ open-ended purchases eyed - JPMorgan (they nailed it for now...)

- France aims to get ECB's bank supervisory job

- Ireland and Portugal present joint request for an aid repayment extension

- AUDUSD launched higher; cracks 1.0520/30 resistance

- BoJ adopts 2% inflation target; open-ended easing

- BoJ delivers enough for the USDJPY ride to continue - Societe Generale

USDJPY breaks above 90.00 on BoJ news amid high vol

- USDJPY buyers faked out; 88.90 lowest after 90.00 kiss

- USDJPY: Longs getting very nervous; safer to sell intraday rallies

- EURUSD has a daily range to resolve

- Eurogroup agrees release of 9.2bln-euro January tranche for Greece
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