Yen to 7-week high before BOJ-Meeting, GBP gains

The Japanese Yen has reached its highest level in the last 7 weeks before the beginning of the two-day BOJ-Meeting today. The new investor confidence in the JPY is based on the assumption that the BOJ will decide at its meeting no further measures to support the Japanese economy. Since the beginning of the economic measures by the BOJ the yen weakend by about 11%. The BOJ purchases government bonds this time of a monthly amount of 72 billion dollars. Due to the current economic situation, in which the exports benefit from a weak yen is likely to fail on an extension of the purchases. The yen against the U.S. dollar could increase by 0.95% and currently stands at 96.80. The increase to EUR is currently 1.06% with a rate of 128.66.

The GBP was strong, make up ground after today's inflation report from the BOE.It is becoming apparent that the UK economy is now back on fairly stable feet, as well as yesterday's data of the industrial production in the United Kingdom showed. The pound was up against the USD currently at 0.92%, with a current rate of 1.45498. The profit against the EUR is currently 0.89% with a rate of 0.8592. Only against the yen, the British pound had slightly losses of 0.17%, with a current price of 149.74, accept.

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