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  • ShrimpFever > 2014 > February > 9 > 41 yen on Reuters data, near a 3 1/2 year uk canada goose peak

    41 yen on Reuters data, near a 3 1/2 year uk canada goose peak

    February 9th, 2014  |  Published in Uncategorized

    yen on ambitious BoJ policy move

    NEW YORK (Reuters) The dollar and euro notched their largest daily percentage gains canada goose clearance sale against canada goose coats on sale the yen since uk canada goose outlet late 2008 on Canada Goose Coats On Sale Thursday after the Bank of Japan surprised markets with an ambitious plan to fight deflation Canada Goose online in a radical overhaul of policy.

    A woman counts Japanese 10,000 yen notes canada goose factory sale in Tokyo, in this February 28, 2013 picture illustration. REUTERS/Shohei Miyano

    The dollar rose more than 3 percent and the euro more than 4 percent versus the yen canadian goose jacket after the BoJ unleashed the world most intense burst of monetary stimulus, promising canada goose to inject about $1.4 trillion into the economy in less than two years, a radical gamble that sent its bond yields to record lows.

    Governor Haruhiko Kuroda, buy canada goose jacket cheap chairing his first policy meeting, committed the BOJ to open ended asset buying and canada goose coats said the monetary base would nearly double to 270 trillion yen ($2.9 trillion) by the end of 2014.

    is not your grandfather BOJ, said Boris Schlossberg, managing director of FX Strategy at BK Asset Management in New Canada Goose Online York.

    fact that they came out, doubled the size of the QE and are willing to do all these non conventional measures suggested that they really want to take dollar/yen to 100, he said.

    The dollar rose as high as 96.41 yen on Reuters data, near a 3 1/2 year uk canada goose peak of 96.71 set on March 12. It was last trading at 96.14 yen, up 3.3 percent canada goose black friday sale on the Canada Goose Parka day and on track for its best day Canada Goose sale since October 2008.

    The euro soared as high as 124.48 yen and last traded at 124.38, up 4.1 percent on the day, marking its biggest one day move since November 2008.

    In the options market, three month dollar/yen risk reversals, a broad gauge of currency market sentiment, remained biased toward puts, the cheap canada goose uk right to sell dollars at a future date, but canada goose clearance demand stood at its lowest level since March 11.

    BoJ announcement was more aggressive than almost anybody had expected, cheap Canada Goose said Jens Nordvig, global head of FX strategy at Nomura Securities in New York.

    The anticipation of long dated Japanese government bond purchases has already caused the canada goose uk shop Japanese canada goose uk outlet yield curve to collapse.

    sets the stage for asset allocation changes in canada goose store coming jacketstock months, he said. have been out of the yen trade in recent weeks, but we think another leg of yen weakness is in store as domestic asset managers start to shift in the new fiscal year, and on the back of unprecedented policy aggressiveness by the BoJ. growth momentum lately, the dollar may not be the best currency to express yen weakness.

    Instead, the firm said it buying the Australian dollar against the yen, targeting a move to 105 in two to three months.

    The BOJ new plan means canada goose uk black friday it will buy about 7 trillion yen ($73 billion) of bonds per month, equivalent to about 1.4 percent of gross domestic product. Federal Reserve is buying $85 billion of bonds per month, about 0.6 percent the size of the economy.

    Kuroda also said he would not hesitate to adjust policy further.

    The yen also weakened against other currencies, with the Australian dollar rising above 100 yen for the first time since 2008. nonfarm payrolls report, due on Canada Goose Outlet Friday. Employers likely added 200,000 jobs to their payrolls last month and the unemployment rate is seen steady at a four year low Canada Goose Jackets of 7.7 percent, according to a Reuters poll.

    The euro rose versus the dollar, with gains accelerating in the afternoon as investors covered short positions, bets made on a currency falling, a trader said.

    European Central Bank President Mario Draghi said the bank stood ready to act if growth continues to languish. He also affirmed his commitment to keeping canada goose outlet the euro zone intact and said the Cyprus bailout was not a for future rescues in the buy canada goose jacket currency zone.

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