18th July 2014
The dollar has ticked higher versus the yen in forex trading markets today (July 18th), following the publication of the minutes from the Bank of Japan's latest policy meeting.
Policymakers were in agreement that the country's economic recovery remains in line with expectations, insisting they slowdown in inflation will prove only to be a temporary blip and suggesting there is no need for further stimulus action.
This sent the yen lower versus the dollar, but demand for the currency is likely to be supported amid the heightened geopolitical tensions.
Trading sentiment turned yesterday after a Malaysian Airlines passenger jet was reportedly shot down in eastern Ukraine, killing all 298 people on board. This comes just hours after the US and European Union announced stricter sanctions against Russia for the confrontation in the country.
Investors have also been spooked after Israel announced the start of a ground campaign in Gaza, which comes ten days after aerial and naval bombardments failed to prevent Palestinian rocket attacks.
The dollar was trading 0.19 per cent higher versus the yen at 101.35 yen in early European trading.
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