Forex
CAD/JPY Trades Flat as Bank of Japan Resists Rate Hike
The Canadian Dollar vs Yen (CAD/JPY) has been trading at ¥111.17, marking a daily increase and holding near its session high.
This comes after the Bank of Japan's September meeting summary did not indicate an imminent rate hike, which weakened the yen and supported downside in CAD/JPY.
Data from Fxstreet highlights that heightened geopolitical risk aversion and divergent central bank policies have strengthened U.S. dollar demand and put pressure on the Canadian dollar in September, shaping the broader range-bound behavior in CAD/JPY.