Forex Flash: BoJ expected to ease more aggressively – Danske Bank

The Japanese yen is gaining ground against the US dollar on Tuesday, after the BoJ minutes showed that board members would favour further stimulus, adding to yesterday’s comments by BoJ members, in which they discussed adding risk assets to the easing programme and considered the likeliness of extending the maturity of the JGBs.

“We expect the BoJ to extend its asset-purchase programme in an aggressive manner going forward– likely already at the April meeting – and the direction for USD/JPY should be higher still albeit the pace of acceleration could soften somewhat from here”, assessed C.Tuxen, Senior Analyst at Danske Bank.