USD/JPY holds ground above the 149.00 psychological mark ahead of the key event. Nikkei reported that BoJ may tweak its Yield Curve Control approach. Fed Chair Jerome Powell affirmed that they would leave rates unchanged, but could warrant further tightening of monetary policy. BoJ monetary policy meeting will be closely monitored by traders. The speculation that the Bank of Japan may tweak its Yield Curve Control approach boosts the Japanese Yen against the US Dollar .
The Federal Reserve Chair Jerome Powell affirmed last week that they would leave interest rates unchanged at its November meeting on Wednesday, but whether they will hold for December will depend on the incoming data. Powell further stated that the US rate could go up again if high economic growth and a labor shortage continue. Markets currently priced in a 23% chance of the Fed hiking 25 basis points on Wednesday, according to the CME Fedwatch tools.
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Source: FXStreetNews - 🏆 14. / 72 Read more »