Bank of Japan Expected to Hold Rates, Yen Under Scrutiny
The Bank of Japan is widely anticipated to leave its policy rate at 1.00% following a 25bp hike in June. Markets question whether the decision can support the struggling yen.
USDJPY
The Bank of Japan (BoJ) is set to announce its latest policy decision, with markets expecting no change to the benchmark rate. This follows a 25-basis-point increase in June that brought borrowing costs to a 31-year high of 1.00%.
Analysts are watching closely to see if the BoJ can provide any support for the yen, which has faced persistent depreciation pressure. The outcome could influence near-term moves in USDJPY.
Source: FXStreet Forex News