The Japanese Yen edges lower as the BoJ is widely expected to leave interest rates unchanged on Friday. Reuters poll indicated the BoJ to keep its benchmark interest rate steady at 0%-0.1%. Nikkei reportedthat the BoJ is contemplating a reduction in its bond holdings to a range between ¥4.8 trillion and ¥7 trillion. The Japanese Yen edges lower against the US Dollar as the market anticipates the Bank of Japan's upcoming interest rate decision on Friday.
According to Reuters, while speaking to parliament last week, Bank of Japan Governor Kazuo Ueda stated that inflation expectations are gradually rising but have yet to reach 2%. We have been scrutinizing market developments since the March decision. As we proceed to exit our massive monetary stimulus, it's appropriate to reduce bond purchases, Ueda said. Technical Analysis: USD/JPY moves above the key level of 157.00 USD/JPY trades around 157.20 on Friday.
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Source: FXStreetNews - 🏆 14. / 72 Read more »