Yen Trades Flat as Markets Await Fed and Bank of Japan Decisions
2026-07-28 06:58:13
The yen held steady around 163.85 against the U.S. dollar in Asian trading on Tuesday, and USD/JPY lacked direction as investors waited ahead of the Federal Reserve's policy announcement on Wednesday. According to Jin10, CME FedWatch showed traders saw a 62% chance that the Fed would keep rates unchanged in the 3.50%-3.75% range, while also indicating a higher likelihood of a rate hike at the September policy meeting. Investors were not expecting the policy statement or Chairman Kevin Warsh's news conference to provide guidance on the rate outlook, and the market wants to know how long U.S. inflation will stay above the Fed's 2% target. In Tokyo, investors were also waiting for the Bank of Japan's policy decision on Friday, and the BOJ is expected to leave rates unchanged at 1% and issue hawkish remarks on the policy outlook.
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