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Yen Holds Gains Before BOJ Meeting •

Yen Holds Gains Before BOJ Meeting

Equityworld Futures News : (Rabu, 11 Juni 2014)

The yen held a gain versus the dollar from yesterday amid speculation the Bank of Japan will refrain from expanding stimulus at a policy meeting this week.

A gauge of expected price swings in the pair remained near a record low before BOJ Governor Haruhiko Kuroda speaks at a press conference following the central bank decision on June 13. The Australian dollar traded 0.1 percent from a three-week high before a private report on consumer confidence today. The kiwi currency held gains against most of its 16 major peers amid speculation the Reserve Bank of New Zealand will raise interest rates at a third straight meeting tomorrow.

Japan™s currency was little changed at 102.31 per dollar as of 8:02 a.m. in Tokyo from yesterday, when it gained 0.2 percent. It fetched 138.59 per euro from 138.66, after advancing 0.9 percent over the past three sessions. The 18-nation currency was unchanged at $1.3547, after dropping to $1.3503 on June 5, the lowest since Feb. 6.

The Australian dollar was little changed at 93.72 U.S. cents from yesterday, when it touched 93.84, the highest since May 15. New Zealand™s currency bought 85.27 U.S. cents after strengthening 0.4 percent yesterday to 85.26.

The BOJ has been buying about 7 trillion yen ($68.4 billion) of government bonds a month since April 2013 in stimulus that tends to weaken the yen. All 33 economists surveyed by Bloomberg News forecast the central bank will keep policy unchanged at the June 12-13 meeting.

Source : Bloomberg

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