Yen waits on the Bank of Japan
The yen showed almost no movement on Friday as traders awaited the Bank of Japan's policy announcement, according to Business Recorder. The central bank is broadly expected to keep its benchmark rate at 1.25%. Even so, market pricing implied roughly an 80% probability of an increase in December, a bet that survived expectations the BOJ would deliver a hawkish message. The currency sat close to 157.815 against the dollar and looked set to shed 0.2% over the month.[S1][S2][S3][S4][S5][S7]
A crowded week for central banks
The BOJ is not alone in standing pat. The European Central Bank, the US Federal Reserve and the Reserve Bank of New Zealand all left their rates unchanged during the week, the report said. Attention now turns to the Bank of England and the Reserve Bank of Australia, both of which are scheduled to announce decisions the following week. The clustering of holds leaves the yen's near-term path tied less to domestic data than to how forcefully Japanese officials frame the next move.[S1]
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