Governor Kuroda of the Bank of Japan commented yesterday that the negative rates introduced in January did not mean an end to QE, and that the Japanese central bank could very well continue to expand if necessary. While the Yen fell on the remarks, risk aversion in the markets saw the currency continue to strengthen for a second day, gaining sharply against the Dollar, the Euro and the British Pound. Losses in GBPJPY were stronger as the Pound weakened on uncertainty concerning a possible Brexit. USDJPY was seen weaker, trading close to the previous yearly low of 110.973, but it managed to recover near the end of the session. The Dollar is currently stronger against the Yen, trading at 112.47 ahead of the European session open.
Oil Turns Volatile, Erases Previous Losses
Daily Analysis - 25/02/2016