15.06.2020 Usd/Jpy Daily Analysis

15.06.2020 Usd/Jpy Daily Analysis

Usd/jpy today is trading at 107; it is trading higher with 0.01% mainly because investors are seeking protection from the weakness in the global equity markets moving money in the US dollar. Volume is on the light side despite the volatility in the stock market as investors avoided big moves before a Bank of Japan policy meeting ending Tuesday.No major changes are expected, but some investors may focus on Governor Haruhiko Kuroda’s views on the growing interest in its yield curve control policy. U.S. central bankers discussed the option of adopting yield curve controls to cap bond yields, Federal Reserve Chairman Jerome Powell said last week. Traders are also monitoring a spike in coronavirus cases in the United States, as fears grow that another outbreak could inflict greater damage on the global economy BOJ is likely to leave interest rates and asset purchases unchanged at the end of its two-day meeting, which began Monday. Officials will consider the impact of measures taken so far to soften the impact of the virus and don’t see a pressing need now for any further major moves.