Fed and Energy Drivers Outweigh BoJ for Yen, ING Says
ING analysts expect the Bank of Japan to hold rates at 1.00% on July 31, but see little chance of a hawkish shift boosting the yen or altering USD/JPY, as Fed policy and energy prices dominate.
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ING's Chris Turner and Padhraic Garvey forecast that the Bank of Japan will keep its policy rate at 1.00% at the July 31 meeting. Any modestly hawkish tilt is not expected to materially strengthen the yen or shift the USD/JPY pair.
The analysts highlight that Federal Reserve policy decisions and energy market dynamics are more significant drivers for the Japanese currency at present.
Source: FXStreet Forex News