Another Failure: BOJ Cuts Rates, And Effect On Currency Only Lasts About Three Hours

The BoJ cut rates last night from 0.1% to a range of 0.0-0.1%. Yes, yes, that’s not a lot, but there isn’t a lot that can be done at this level.

The move briefly weakened the yen, but traders didn’t waste their time pretending that this would be any more impactful than anything else has been.

The chart says it all.

chart

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