Yen on guard ahead of BOJ decision; dollar set for weekly loss
The BOJ concludes its two-day policy meeting later in the day and markets have fully priced in a 25-basis-point hike, with comments from BOJ officials in recent times also hinting at such a move.
Ahead of the decision, the yen was little changed at 156.11 per dollar, languishing near a one-week low hit in the previous session.
The Japanese currency surged last week on heightened expectations for a rate hike but has since given up some of those gains as traders also await further clarity on the BOJ's policy outlook.
«The BOJ is likely to proceed with a rate hike,» said Vincent Chung, co-portfolio manager for T. Rowe Price's diversified income bond strategy.
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