USDJPY: The BoJ Leaves Policy Unchanged, Downgrades FY2014 GDP Forecast

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The Bank of Japan (BoJ) retained its plans for a 60-70trn yen annual increase in the monetary base. The move was widely expected by the market, thus the yen's reaction was fairly limited. JPY started to lose ground immediately after the BoJ's announcement, but it proved to be a textbook



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