The Japanese yen rallied against most major currencies on speculations that the nation’s central bank will refrain from adding monetary stimulus during the policy meeting that has started today.
The Bank of Japan started its two-day policy meeting today and will announce its decision tomorrow. No changes to the policy are expected. The BoJ will also release its Monthly Report, which should provide insights into the central bank’s view on the current state and the outlook for the nation’s economy.
USD/JPY was down from 101.48 to 101.27, and EUR/JPY declined from 139.12 to 138.74 as of 20:02 GMT today.
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