BOJ Meeting

Looking at the BOJ announcement the governors loom to be content with the lower pace of inflation, which they mark as due to declining oil prices. The lack of aggression  in combating low inflation seemed expected by many analysts but it does open the door for the Yen to strengthen from market weakness. Such weaknesses can come from the ECB on Thursday should the purchases co e in weaker than expected and create doubts about the global economy getting out of the near deflationary slump. Time will tell how the markets take the ECB meeting but the Yen could be the safe haven currency if things turn for the worst.

Also interesting to note is if oil price was the true detractor from the inflation targets, the currency may be a good bet for oil dropping as well, should the BOJ continue to do nothing (low oil, low inflation, therefore higher Yen pressure)