Yen market Buy dollar and sell yen Rough price move March 16 10:25
In the Tokyo foreign exchange market and the yen exchange rate on the 16th, the financial market has been shaken by the spread of the new coronavirus, and the BOJ has decided to hold the monetary policy meeting ahead of schedule, not supporting the global economy With the expectation that they would buy a dollar and sell a yen, the price was rough.
In the foreign exchange market, on the 16th morning of Japan time, the U.S. Fed took an urgent cut in interest rates, and the movement to sell back dollars with falling interest rates and repurchase yen quickly progressed. Rough price movements such as the yen appreciation have progressed.
Before 9 am, the Bank of Japan announced that it would hold a monetary policy meeting ahead of schedule to decide on additional measures, and this led to the buying of dollars in hopes that the global economy would be supported. There is a move to sell yen.
Market officials said, "The Fed was expected to cut interest rates further, but it was surprising that it was urgent. It will be interesting to see what actions will be taken at the BOJ's upcoming meeting."