Wednesday, 15 July 2020
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Yen in Tight Range Before BOJ Decision, Markets Await Fed and ECB
Monday, 27 April 2020 08:01 WIB | CURRENCIES |Dolar AS Euro

The yen was hemmed into a tight range on Monday before a Bank of Japan meeting where policymakers may consider scrapping limits on bond purchases and easing funding for companies hit by the coronavirus crisis.

Currency traders are also focused on a U.S. Federal Reserve meeting ending Wednesday and a European Central Bank (ECB) meeting Thursday as major central banks once again take the stage as the global economy battles against a deep depression.

The Fed has already announced a raft of measures and is expected to stay on hold this week, which is unlikely to trouble the dollar, analysts say.

The yen held steady at 107.41 per dollar on Monday in Asia.

Against the euro, the yen traded at 116.29, close to its strongest level in three years against the common currency.

The euro was little changed at $1.0825 in Asia on Monday. Against the pound (EURGBP=), the euro traded at 87.47 pence.

Source : Reuters

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