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YEN: Yen strengthens after the BoJ..............>

YEN
YEN: YEN: Yen strengthens after the BoJ annoucement. All policy measures
unchanged from the Bank, but slight upgrade in the outlook for inflation. 
- BoJ said that on the whole inflation expectations are unchanged, said
previously that expectations were weakening. Some in the market seem to be
taking this as a sign that the BoJ are taking notice of stronger economic
conditions amid the recent tightening talk. 
- BoJ GDP Forcasts: 2017 1.9%, 2018 1.4%, 2019 0.7% 
- Core CPI Forecasts: 2017 0.8%, 2018 1.4%, 2019 1.8% (unchanged)
- USD/JPY last down 22 pips at 110.70, briefly touched session low of 110.56. 
- Market will look ahead to the press conference from BoJ Governor Kuroda at
0630GMT, focus will be on the Y80tln JGB purchase target (which was maintained
at this meeting despite lower purchases in real terms).

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