The Central Bank of Japan announced it would be selling yen and buying dollars in an attempt to slow the yen’s appreciation after hitting a 15-year high against the greenback. An appreciating yen hurts Japan’s exports as it makes products shipped from Japan more expensive for foreign markets.
Source: BBC News
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.