The Bank of Japan released the minutes of its March meeting earleir topday: Bank of Japan Minutes of the Monetary Policy Meeting on March 17 and 18 Various reports are saying the Bank reaffirmed its loose monetary policy. Well, yes, they did. But the meeting was nearly two months ago and since then we’ve had the even more dovish April meeting: The Bank of Japan does say it’ll be conducting fixed-rate operations every day The MArch meeting minutes are not really the catalyst for the rising USD/JPY today. They are very old news indeed. And outddated. USD is up across the majors board.
Source:Forexlive