Dollar/yen awaiting the Bank of Japan monetary policy meeting, taking a wait-and-see stance.
【6/13Market Overview
In Tokyo time, the dollar-yen rose as domestic demand for dollars was observed157.20yen to reach157.31yen for a while157yen level remained firm in the lower half.NYtime,5month USPPI(Producer Price Index) came in weaker than expected, causing the dollar-yen to156.57yen to drop to157yen level recover. Overall, ahead of the Bank of Japan Monetary Policy Meeting, markets were cautious and lacked a clear direction.
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