USD/JPY slips as yen rises after Bank of Japan keeps policy steady

USD/JPY eased lower in Asia off from 121.09 to 120.76 after the announcement that the Bank of Japan left policy unchanged and slightly upgraded its economic assessment, as expected. The vote was 8-1 to leave monetary policy steady. EUR/JPY was steady, trading between 134.45-65. A main risk event for the dollar today would be Fed Chair Janet Yellen’s speech.

EUR/USD rose higher in the Asian session, up from 1.1100 to 1.1145. The euro recovered some losses made from Thursday’s tumble after mixed Eurozone PMI data. Focus will be on German Ifo today and ECB Chief Mario Draghi’s speech. EUR/GBP was steady between 0.7091-0.7109, bouncing off recent lows. EUR will likely remain under pressure though as the Greece saga weighs.

GBP/USD held onto gains made after yesterday’s surge on strong UK retail sales. It traded between 1.5657-80 in Asia.

USD/CHF slide after an early Asian session high, slipping from 0.9378 to 0.9348 due to broad USD weakness. EUR/CHF was better bid, trading from 1.0406 to 1.0421, moving away from yesterday’s 1.0387 low.

AUD/USD opened in Asia at 0.7895, traded up from 0.7891 to 0.7928. There are no data from Australia today so the pair’s direction will rely on USD moves.

NZD/USD opened in Asia at 0.7350, soars from 0.7341 to 0.7396.

The post USD/JPY slips as yen rises after Bank of Japan keeps policy steady appeared first on Forex Circles.

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