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BoJ resucitates the Japanese yen

USDJPY News by Newsroom on 00:47 June 10, 2015 EST
The Japanese Yen strengthened this Wednesday more than 0.7% versus the US dollar after Bank of Japan's Governor Kuroda said it's unlikely for the USDJPY exchange rate to fall further.

He added that the true Yen's real effective rate is very weak and that it is hard to see Yen real effective rate falling further.

The Japanese yen has strengthened abruptly across the board after his comments and USDJPY has lost almost 300 pips in a matter of minutes.