Mar 26, 2013
Forex Flash: USD/JPY still likely to target 100 by year-end – UBS
The newly installed BoJ Governor Kuroda stuck to the dovish script overnight, though two comments in particular seemed to impress investors sending the USD/JPY gradually higher. However these were merely restatements of his existing position. First, Kuroda reiterated that one easing option would be to scrap the BoJ's self-imposed rule, which prevents the stock of Rinban JGBs exceeding the value of yen currency notes in circulation.
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