Fed, Bank of Japan policy divergence

Bloomberg/Lorcan Roche Kelly/9-21-2017

“Overnight, the Bank of Japan kept monetary policy unchanged, with a surprise dovish dissent in the 8-1 vote as newly-appointed Goushi Kataoka said that policy needed to be more accommodative to reach the bank’s inflation target by 2019. The divergence between the Fed and the BOJ pushed the yen lower, with the currency trading at 112.40 per dollar. . .”

USAGOLD note:  The yen started the year at 115 and it’s now trading at 112.4, so it is actually up against the dollar on the year. When you zoom out from the day to day noise, the reality comes into focus.

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