USDJPY: Asian foreign exchange little changed; Central banks are
With the Japanese Yen stable below 150, BOJ is the main focus.
Monday saw a small increase in the value of the Japanese yen, which last week dropped to a one-year low and is now trading below 150.
With high inflation and a badly weakened economy, the spotlight is firmly on the outcome of the BOJ meeting on Tuesday, when the central bank is expected to likely announce more adjustments to its yield curve management program.
A rebound in consumer inflation in Japan was seen in recent statistics, which traders speculated would force the BOJ to revert its ultra-loose policy. The bank's negative interest rate policy is expected to terminate in 2024, according to analysts.
The yen, which is among the worst-performing Asian currencies this year, stands to gain from any tightening measures taken by the BOJ.
Monday saw a small increase in the value of the Japanese yen, which last week dropped to a one-year low and is now trading below 150.
With high inflation and a badly weakened economy, the spotlight is firmly on the outcome of the BOJ meeting on Tuesday, when the central bank is expected to likely announce more adjustments to its yield curve management program.
A rebound in consumer inflation in Japan was seen in recent statistics, which traders speculated would force the BOJ to revert its ultra-loose policy. The bank's negative interest rate policy is expected to terminate in 2024, according to analysts.
The yen, which is among the worst-performing Asian currencies this year, stands to gain from any tightening measures taken by the BOJ.
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TP: 149.90
SL: 149.20