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Yen Weakening as Bank of Japan Eases Lending, Yellen Endorses Taper

The Bank of Japan announces it will boost its lending program and leave its monetary stimulus program unchanged. OANDA Senior Currency Strategist Alfonso Esparza tells TheStreet's Joe Deaux that this move coupled with Federal Reserve Chairwoman Janet Yellen's commitment to move ahead with tapering will weaken the Japanese yen even more against the U.S. dollar. The Bank of Japan implemented its current stimulus program early in 2013 in hopes that it could spur stronger economic growth in the country.