Bank of Japan Trims FY14 Growth Expectations (FXY) (YCL)

Guggenheim CurrencyShares Japanese Yen Trust (NYSE: FXY) and ProShares Ultra Yen (NYSE: YCL) are on watch today following a revised outlook from the Bank of Japan.

Japan's central bank said Tuesday that it sees the economy growing at a price-adjusted 10 percent pace for the current fiscal year, which ends in March, from a prior outlook of 1.1 percent growth.

Growth expectations for the next fiscal year and FY16 were unchanged at 1.5 percent and 1.3 percent, respectively. Inflation is expected to be 1.9 percent and 2.1 percent for FY15 and FY16.

"Risks to the outlook include developments in the emerging and commodity-exporting economies, the prospects for the European debt problem, and the pace of recovery in the U.S. economy," the BoJ said.

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