Kuroda: no concerns over low inflation - FXStreet

Valeria Bednarik, chief analyst at FXStreet explained that the Japanese yen soared against all of its major rivals after the Bank of Japan decided to remain pat on economic policy, amid ongoing market's turmoil surrounding the upcoming Brexit referendum.

Key Quotes:

"BOJ's Governor Kuroda showed no concerns over low inflation and economic developments, but a couple of officials from the Ministry of Finance run to the wires to express concerns over one-sided movements as the USD/JPY pair plummeted to 103.54, its lowest since August 2014.

In spite of easing risk sentiment and recovering stocks during the American afternoon, the pair was unable to recover ground, contained by selling interest around the 104.60 level, the immediate resistance."