Sterling, Yen Bolstered By Central Bank Inaction
Sterling jumped to fresh highs versus the euro and U.S. dollar on Wednesday before easing a tad following the release of the Bank of England’s (BoE) rate-setting policy meeting minutes. Meanwhile in Tokyo, the Bank of Japan’s (BoJ) decision to stand pat on monetary policy served to give the yen a boost against the greenback and euro. Evidently, the BoJ sees little threat to Japan’s embattled economy from Prime Minister Shinzo Abe’s government’s sales tax increase it implemented last month.
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