Home Forex Yen gains in Asia as BoJ, Fed policy views in focus

Yen gains in Asia as BoJ, Fed policy views in focus

by Jonathan Adams

The yen gained in Asia on Thursday and the kiwi held early gains after the New Zealand central bank held pat as investors attempted to parse the Fed on a possible rate hike timing and Bank of Japan on easing.

USD/JPY changed hands at 100.14, down 0.17%, while AUD/USD traded at 0.7644, up 0.24%. NZD/USD traded at 0.7363, up 0.33%.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, fell 0.08% to 95.38.

Overnight, the dollar slipped lower against the other major currencies on Wednesday, as investors parsed the Federal Reserve’s policy decision to hold steady and mulled whether the Bank of Japan’s new policy measures represent starker easing.

The BoJ adopted “yield curve control” under which it will buy long-term government bonds to keep 10-year bond yields at current levels around 0%.

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