Bank of Japan not to add stimulus

The yen today finally rose from its weakest level in seven months against the dollar after the BoJ met today. For the moment they have decided to restrain from stimulus measures. This comes after Japan's opposition party have advocated unlimited easing.The yen climbed 0.2% against the dollar this morning.

The BoJ's governor said today that he wants respect for the bank's independence. He believes the opposition's target of 3% is unrealistic and that unlimited money printing would worsen debt.

Yet, economists are advising paring short positions on the yen, betting that it will fall in price, as the yen's move against the dollar is said to be "overdone."

Not long after its rise, the yen erased its advance against the dollar.

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