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BOJ comments lift yen; pound steady ahead of Bank of England meeting

by Jonathan Adams

The yen was flat against the dollar and the euro during Asian trade Thursday, as the Japanese currency failed to maintain earlier gains on remarks by a Bank of Japan senior official.

Deputy Gov. Kikuo Iwata said Thursday the central bank has no preset agenda for its “comprehensive assessment” of its current policy scheduled at the next policy board meeting in September.

Yuzo Sakai, manager of FX business promotion at Tokyo Forex & Ueda Harlow, said, “The comments gave a sense of disappointment to some extent”.

Downside momentum picked up for the U.S. currency in an otherwise thin volume mid-morning trade, with yen buying kicking in from short-term players who were expecting in-depth remarks on the central bank’s next steps.

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