The yen strengthened against the dollar and other currencies in early Asian trading. The Federal Reserve and the Bank of Japan will both hold monetary policy meetings this week, and if the market focuses on monetary policy convergence between the two, the dollar could fall to a year-to-date low below 140.00 against the yen, the team said in a research note. While the Bank of Japan is expected to keep policy unchanged this week, the bank's governor Kazuo Ueda is likely to leave the door open for another rate hike, possibly as early as October, the team said.
Meanwhile, the FOMC is likely to cut its policy rate by 25 basis points this week. The dollar fell 0.2 per cent to 140.52 against the yen after touching 140.29 on Friday, its lowest intraday level this year, according to FactSet.
Commonwealth Bank of Australia: It is expected that the governor of the Bank of Japan may open the door to another interest rate hike
2024-09-16 01:26:32
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