The Japanese yen tumbled today after the Bank of Japan pumped money into the nation’s financial system to help the country in dealing with the consequences of the 8.9-magnitude earthquake on March 11.
The BoJ will add ¥15 trillion ($183 billion) to Japan’s economy and increase its
asset-purchase program. The 8.9-magnitude earthquake on March 11 and the tsunami, caused by the tremor, have killed 10,000, according to the preliminary estimates of the police, in Miyagi prefecture north of Tokyo.
USD/JPY traded at 82.04 as of 11:01 GMT today after it opened at 81.44 and jumped to 82.43, while EUR/JPY surged from 113.52 to 114.60.
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