The Japanese Yen slipped lower today ahead of the Bank of Japan’s monetary policy decision tomorrow. The Nikkei 225 equity index found higher ground with the central bank decision appearing to be in the balance after a perceived tightening at its December conclave.
At that meeting, they changed the yield curve control (YCC) program by targeting a band of +/- 0.50% around zero for Japanese Government Bonds (JGBs) out to 10 years. They previously targeted +/- 0.25% around zero.
