USD/JPY Climbs Above Mid-160.00s Ahead of BoJ Rate Decision
The dollar-yen pair recovered from its recent low and pushed back above 160.50 in Asian trading as markets awaited the Bank of Japan’s policy announcement.
USDJPY
USD/JPY extended its bounce on Thursday, pushing back above the mid-160.00s during Asian hours. The pair had briefly dropped below 158.00 the previous day, hitting its weakest since mid-May, before staging a sharp turnaround.
The advance comes as traders brace for the Bank of Japan’s interest rate decision, a key event that could sway the yen’s direction. A signal of continued accommodative policy would likely keep the dollar supported.
The quick recovery highlights strong demand for the dollar ahead of the decision, with the 160.00 threshold once again in focus.
Source: FXStreet Forex News