USD/JPY Eases from 119 as BOJ Test Looms

The yen nursed broad losses early on Wednesday as investors sold the Japanese currency in a precautionary move against any further policy easing by the Bank of Japan.

The BoJ is under growing pressure to increase its already massive stimulus program as slumping oil prices drag inflation away from its 2 percent target.

The dollar rose as far as 118.87 yen overnight, tearing away from a one-month trough of 115.85 set recently. Still, it remained well below a seven-year peak of 121.86 scaled last month.

CNBC

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.