20 Jan 2015
USD/JPY holds above 118.00
FXStreet (Córdoba) - The yen is falling across the board on Tuesday as stocks rise in Europe and as US government bonds erase gains. USD/JPY remains above 118.00, near daily highs, moving with an upside bias.
The pair peaked earlier at 118.55 hitting the strongest level in a week and then pulled back but rebounded around 118.00 and climbed back to the highs. Currently trades at 118.50, up 0.78% for the day.
With no significant macro data ahead for today, attention turns to the Bank of Japan’s meeting to be held tomorrow. “As we expect the BoJ to maintain the status quo, the accompanying statement, especially comments on the inflation target, should give fresh direction to JPY-complex from Wednesday”, noted Ipek Ozkardeskaya, Market Analyst at Swissquote.
The pair peaked earlier at 118.55 hitting the strongest level in a week and then pulled back but rebounded around 118.00 and climbed back to the highs. Currently trades at 118.50, up 0.78% for the day.
With no significant macro data ahead for today, attention turns to the Bank of Japan’s meeting to be held tomorrow. “As we expect the BoJ to maintain the status quo, the accompanying statement, especially comments on the inflation target, should give fresh direction to JPY-complex from Wednesday”, noted Ipek Ozkardeskaya, Market Analyst at Swissquote.