BoJ injects 800 billion yen

Today, the GBP/JPY continued its strong movements with a 375 pip drop. Starting the day at a high of 229.09, it began its descent to the lowest point at 225.32. News that the Bank of Japan injected 800 billion yen into the financial system was the reason. It nearly erased this drop in two hours with a 300 pip upward movement. It has since traded at 226 on anticipation of the interest rate announcement tomorrow.