USDJPY stays flat on BoJ decision to leave rates unchanged
The Japanese yen is seen little changed near a one-week low against the dollar on Tuesday after BoJs Policy Board, at the Monetary Policy Meeting held today, decided, by a unanimous vote, to encourage the uncollateralized overnight call rate to remain at around 0.5 percent. The Bank further said it will reduce the planned amount of its monthly purchases of JGBs so that it will be about 2 trillion yen in January-March 2027. The amount will be cut down, in principle, by about 400 billion yen each calendar quarter until January-March 2026, and by about 200 billion yen each calendar quarter from April-June 2026. Meanwhile, broad strength in dollar overseas is also seen limiting any minor uptick in the yen. The dollar index is quoting higher by around 0.20% on the day. Meanwhile, USDJPY pair is seen trading at 144.72, almost flat on the day. On the NSE, JPYINR futures are trading higher by 0.2% at 59.88.
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