The Japanese Yen (JPY) moved little after the Bank of Japan's (BoJ) decision to leave the short-term interest rate target unchanged and remains depressed in the wake of weaker-than-expected domestic data released earlier this Wednesday.
Apart from this, a modest US Dollar (USD) bounce, from a multi-month low touched on Tuesday, lifts the USD/JPY pair above mid-149.00s during the Asian session.
The JPY bears, however, seem reluctant to place aggressive bets and opt to wait for BoJ Governor Kazuo Ueda's comments at the post-meeting press conference. Investors will look for cues about the timing and scope of future rate hikes by the BoJ, which, in turn, will drive the JPY. The focus will then shift to the outcome of a two-day FOMC meeting, which will drive the USD and the USD/JPY pair.
Source : Fxstreet
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