BoJ week: more rate cuts on the way? - FXStreet

Valeria Bednarik, chief analyst at FXStreet explained that after topping at 107.48, the USD/JPY pair closed the week with modest gains at 106.13, as investors rushed to take profits out ahead of the upcoming BOJ's meeting, next July 29th.

Key Quotes:

"Abe's victory in the latest elections fueled speculation that the Japanese Government was getting ready to launch massive stimulus, both fiscal and monetary, resulting in the JPY plummeting against all of its major rivals."

"But BOJ's Governor Haruhiko Kuroda denied the possibility of implementing "helicopter money," even despite reaffirming that the central bank is prepared to step up stimulus if needed. Market is expecting the BOJ to cut rates further into negative territory, down to -0.2% from current -0.1% this week."