Yen little changed as BOJ holds, spotlight shifts to Fed meeting

The yen was little changed versus the dollar on Tuesday, trading near a three-we...

TOKYO - The yen was little changed versus the dollar on Tuesday, trading near a three-week low after the Bank of Japan left monetary policy on hold as expected, and as investors pared expectations for aggressive rate cuts from the U.S. Federal Reserve.

The pound hit a new 28-month low early in Asia trade as investors grew increasingly nervous about the prospects of a no-deal Brexit under new British Prime Minister Boris Johnson. “A rate cut this time around is priced in, so it’s a question of whether there will be another cut this year. Still, with sterling so weak against the dollar, it’s hard to sell the dollar against other currencies.”was quoted at 108.740 per dollar, little changed on the day. The yen fell to a three-week low of 108.950 early in Asian trading.

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