Japanese Yen Stable After BoJ's Governor Speech

Forex News

The Japanese yen is stable today, with the USD/JPY pair sliding a mere 0.03% to 110.435. Governor of the Bank of Japan Haruhiko Kuroda once again stressed that the central bank will adhere to its ultra-easy monetary policy until inflation reaches a 2% target level.

Speaking at the quarterly meeting of the regional managers of the Bank of Japan, Kuroda said that the central bank will support the quantitative easing (QE) program and yield curve control (YCC) as much as it takes to stabilize inflation at 2%. He also said that Japan's economy is growing moderately and, in his view, moderate growth will continue.

The British pound rose slightly after British Brexit Secretary David Davis resigned. The GBP/USD pair is currently up 0.19% on the day at 1.33084 after touching 1.33231. The official reason for this decision has not yet been voiced. But many note that the reason for this decision was not Davis's desire to resist the plan of Prime Minister Theresa May to withdraw from the European Union, which is struggling to stop disputes among its ministers.