USD/JPY hits fresh daily lows after FOMC minutes

FXStreet (Córdoba) - The USD/JPY dropped from 102.05 to 101.72, reaching a fresh daily low, after the Federal Reserve released the minutes of the last FOMC meeting. The US dollar plummeted across the board with the minutes pushing the pair to the downside.

According to the document some FED officials affirmed that the forecast overstated the rate rise pace. There was no mention to the six month period, that according to Janet Yellen could be the time to raise rates once after the purchase program ends.

Despite rising against the US Dollar, the Japanese currency fell across the board as stocks in Wall Street surged.