2014.03.1105:43:37UTC+00Dollar slides against yen; Bank of Japan keeps rates

The US dollar glided down against the Japanese yen on Tuesday, following the Bank of Japan maintained its monetary policy, but still traded higher than yesterday.

Versus the yen, the dollar surged up slightly in early trading before the conclusion of BOJ’s two-day meeting, then slid from ¥103.4 to ¥103.295 following the central bank kept its policy stable and made few changes in its wide economic assessment. Nevertheless, the price was higher than ¥103.21 late Tuesday.

In a statement, the BOJ kept pledge to extend monetary base by ¥60 to ¥70 trillion (or 581 billion to 677 billion) yearly, saying that Japan’s economy has continued to recoup moderately, and a frontloaded raise in demand before the consumption tax hike, which was scheduled in April, has recently been noted.

Meanwhile, the British pound went up $1.6652, previously $1.6640, before UK's industrial production data for January due today. The ICE dollar index, which dents the US unit versus six counterparts, saw little change at 79.78, previously 79.769. The WSJ dollar index, a gauge of the greenback’s strength versus a wider basket of currencies, remained flat at 73.49.

Meanwhile, the euro sank $1.3867, previously $1.3872.