Yen Slumps Ahead of BOJ Meeting as Rate Hike Expectations Rise
The Japanese yen has fallen 0.7% against the US dollar ahead of this Friday's highly anticipated Bank of Japan meeting.
Market participants are pricing in a rate hike, which is described as fully priced by markets, and attention is centered on upcoming data releases, including trade figures due on Wednesday and consumer price index numbers due on Friday.
The USD/JPY pair has seen recent lows around 153 with further support near 152, while resistance is established above 155.