Dollar/Yen positions adjusted ahead of the Bank of Japan monetary policy meeting.
【1/22Market Overview
During Tokyo time, the USD/JPY fell as traders trimmed positions ahead of the Bank of Japan policy meeting results. With weaker US 10-year bond yields after-hours, it briefly dropped to147.74yen. In European hours, USD/JPY rose on gains in Japanese and European stock markets, with selling of yen and buying of dollars continuing to push it to148.30yen.In New York time, as US10 year bond yields declined, USD/JPY fell to147.61yen. Thereafter, with the decline in US 10-year yields slowing, USD/JPY recovered to the148yen area.
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