Yen edges up in Asia as Fed, BOJ policy views are in focus
On Thursday, the Japanese yen soared in Asia and the New Zealand dollar held early revenues after the New Zealand central bank held pat as market participants tried to parse the Fed on a probable rate lift timing and BOJ on easing.
The currency pair USD/JPY changed hands at 100.14, falling 0.17%. At the same time AUD/USD traded at 0.7644, rising 0.24%. Additionally, NZD/USD was worth 0.7363, tacking on 0.33%.
The US dollar index, measuring the evergreen buck’s strength against six crucial currencies, sagged 0.08%, trading at 95.38.
Overnight, the greenback sank against the other key currencies on Wednesday, as market participants parsed the Federal Reserve’s policy verdict to hold steady and mulled whether the BOJ’s new policy measures stand for starker easing.
The BOJ adopted the so-called yield curve control under which the bank will purchase long-term government bonds for the purpose of keeping 10-year bond revenues at current levels around 0%.