JPY Weakens Further: Overview for October 31, 2023

<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/USDJPY_17-360×360.jpg" class="attachment-thumbnail size-thumbnail wp-post-image" alt="USD/JPY analysis today" decoding="async" style="margin-bottom: 15px;" loading="lazy" /></div><p>The <a href="https://roboforex.com/beginners/info/charts/forex/usdjpy/" data-internallinksmanager029f6b8e52c="40" title="USD/JPY">USD/JPY</a> pair is on the rise in the aftermath of the Bank of Japan's meeting.</p>

<p>The Japanese yen, in partnership with the US dollar, is once again losing its strength. The current USD/JPY exchange rate is positioned at 150.11.</p>

<p>In today's meeting, the Bank of Japan decided to keep the <a href="https://blog.roboforex.com/blog/2019/10/22/trading-news-how-to-earn-on-interest-rates/" data-internallinksmanager029f6b8e52c="90" title="Interest rate">interest rate</a> unchanged at -0.10% per annum, precisely as anticipated.</p>

<p>Simultaneously, the central bank announced an enhanced flexibility in its yield curve control. While the target level for the 10-year bond yield remains at around zero, they have set the upper bound at the 1% mark, acting as a crucial reference point.</p>

<p>The BoJ stands ready to increase stimulus measures if the economic situation demands it.</p>

<p>However, the market response to the Japanese regulator's statements was underwhelming. The JPY's exchange rate is weakening due to the substantial interest rate <a href="https://blog.roboforex.com/blog/2019/09/05/what-is-a-gap-main-types-trading-gaps/" data-internallinksmanager029f6b8e52c="71" title="Gap">gap</a> that persists between the Bank of Japan and the US Federal Reserve.</p>

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