2023-04-28 04:29:28
The dollar is heading towards its second consecutive monthly loss, amid growing expectations that the Federal Reserve may soon end the cycle of sharply raising interest rates, while the yen settled near the highest level in a week before an important decision by the central bank.
All eyes in Asia are on the Bank of Japan’s monetary policy decision, as new central bank governor Kazuo Ueda is expected to keep monetary policy loose.
Before the decision, the Japanese yen rose slightly by 0.1 percent to 133.84 once morest the dollar, and rose more than 0.1 percent once morest the pound sterling.
“I don’t expect the Bank of Japan to change its monetary policy this time, but the recently released Tokyo CPI was higher than expected… and I think that puts pressure on the economy,” said Tina Teng, market analyst at CMC Markets. Bank of Japan, and may do something in the near future.”
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