Flash: BoJ meeting key for JPY – Scotiabank

FXstreet.com (Edinburgh) - Camilla Sutton, Chief FX Strategist at Scotiabank, suggests the BoJ will keep unchanged its monetary policy stance in its next meeting.

Key Quotes

“We do not expect any change in stance or tone from the BoJ at today’s meeting (though we expect it in tandem with the sales tax increase); we do believe that diverging Fed and BoJ policy is likely to drive ongoing yen weakness this year".

"Today’s shift higher in USDJPY came in tandem with a jump in equities; however the US-JN 2year yield was relatively flat, suggesting the currency is moving for reasons beyond just central bank policy".