Greenback pulls back versus yen
On Thursday, the US dollar weakened against Japan’s major currency and the euro during Asia trade, as jittery traders looked to the BOJ’s policy verdict to be issued on Friday.
Earlier in the trading session, the evergreen buck dropped to ¥104.63 before popping a little to ¥104.77, although that was still below ¥105.41 achieved late on Wednesday in New York. As for the common currency, it traded ¥115.88, which differs from Wednesday’s reading of ¥116.56.
There’re growing expectations that Japan’s major financial institution will officially announce more monetary easing when its policy setters end their two-day gathering on Friday, to help to back the government’s large-scale stimulus measures.
On Wednesday, the country’s Prime Minister Shinzo Abe told that next week he’s going to disclose an economic-stimulus package with the overall value of more than ¥28 trillion, which is bigger than expected. That’s another attempt to get Japan out of deflation.