USD/JPY bounces off over one-week low, retakes 139.00 mark ahead of BoJ decision – by hareshmenghani USDJPY BOJ Inflation Fed Currencies
Speculations of a tweak in the BoJ's YCC policy boost the JPY and exert pressure on the pair.USD/JPY pair
drifts lower for the fifth successive day and drops to a one-and-half-week low during the Asian session on Friday. Spot prices, however, manage to rebound a few pips in the last hour and climbs back above the 139.00 mark in the last hour as traders now look to the crucial Bank of Japan policy decision before placing fresh directional bets.
The US Dollar , on the other hand, sticks to the overnight strong rally to over a two-week high touched in the aftermatch of the upbeat US macro data and lends support to the USD/JPY pair. The advance estimate released by the US Commerce Department showed that the world's largest economy grew by 2.4% annualized pace during the second quarter, beating expectations. Adding to this, the Initialunexpectedly fell to 221K during the week ended July 22.
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