The announcement of the week award goes to BoJ that just hiked rates for the first time in 17 years. Not without impact on gold. In the aftermath of the decision, the Japanese yen fell in value, which might seem surprising unless one knows about the specific way in which the markets react to news. The market moves on rumor and then moves back when something does indeed take place. The move by the BoJ had been widely communicated before it took place, so every could have prepared. The yen rallied based on that. And when the rates were raised, the yen moved back down. This is interesting from both fundamental and ... (full story)