The main overnight move has been on the yen after the latest Bank of Japan meeting. The major policy parameters were left unchanged, but the BoJ did double the scale of two measures designed to boost lending in the banking sector. Both schemes were due to expire shortly and have been extended for another year. This modest move was taken as a sign that the BoJ are still prepared to push forward in their desire to pull the economy out of the deflationary mind-set that has gripped it for most of the past 20 years. Stocks were given a boost and the yen weakened, USDJPY back above the 102.50 level. GBPJPY moved further above the 170 level, having seen only 3 down days since February 4th. We cannot ignore sterling today. Cable made a brave and brief push above the 1.68 level early yesterday, but has since settled back, looking quite stretched on the daily charts. Today sees the release of CPI data, but the significance of this has now diminished with inflation having returned back to the bank’s 2.0% target where it is expected to remain today when data is released at 09:30 GMT. The bigger focus is with tomorrow’s labour market report and minutes to the February meeting, where there was no doubt much debate regarding the adjustment in forward guidance announced at the inflation report. Sterling could get some support from firmer inflation, but on balance near-term weakness appears to be the greater risk after recent gains. Finally, note that the Aussie dollar initially climbed after the release of the latest RBA minutes, which further underlined that official interest rates were not likely to be moving for the time being. Growth and inflation forecasts were revised higher, which helped the better tone to the Aussie, but this was not sustained through the Asia session, AUDUSD back to the 0.9030 level after a push to the 0.9080 level early on. Further reading: See how to trade the German ZEW Economic Sentiment Index with EUR/USD FxPro - Forex Broker FxPro - Forex Broker Forex Broker FxPro is an international Forex Broker. FxPro is an award-winning online broker, offering CFDs on forex, futures, indices, shares, spot metals and energies, serving clients in more than 150 countries worldwide. FxPro offers execution with no-dealing-desk intervention and maintains a client-centric business model that puts customer needs at the forefront of our operations. Our acquisition of leading spot FX aggregator, Quotix, enables us to offer access to a deep pool of liquidity, as well as top-class order-matching and some of the most competitive spreads in the market. FxPro is one of only few brokers offering Negative Balance Protection, ensuring that clients cannot lose more than their overall investment. FxPro UK Limited is authorised and regulated by the Financial Conduct Authority (registration number: 509956). FxPro Financial Services Limited is authorised and regulated by the Cyprus Securities and Exchange Commission (licence number: 078/07) and by the South Africa Financial Services Board (authorisation number 45052). Risk Warning: Trading CFDs involves significant risk of loss. View All Post By FxPro - Forex Broker Daily Look share Read Next UK inflation slides to 1.9% – GBP/USD extends losses Yohay Elam 8 years The main overnight move has been on the yen after the latest Bank of Japan meeting. The major policy parameters were left unchanged, but the BoJ did double the scale of two measures designed to boost lending in the banking sector. Both schemes were due to expire shortly and have been extended for another year. This modest move was taken as a sign that the BoJ are still prepared to push forward in their desire to pull the economy out of the deflationary mind-set that has gripped it for most of the past 20 years. Stocks were given a boost… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk.4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk.5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.