Japanese Yen Soars as Abe Disappoints; BOE Awaited: Rate Cut and QE Expansion Expected

Japanese yen soared while Nikkei plunged as Abe disappoints. Japanese government unveiled details of the 28 trillion yen (5.6% of annual GDP) stimulus package which includes 13.5 trillion yen of fiscal measures (7.5 trillion yen in new spending and 6 trillion yen in low-cost loans). The market judges that the measures would hardly revive the country's economy and inflation.

from Oil N' Gold Focus http://www.oilngold.com/ong-focus/insights/japanese-yen-soars-as-abe-disappoints-boe-awaited-rate-cut-and-qe-expansion-expected-2016080333373/