The yen slipped toward 156 per dollar as investors stayed cautious ahead of major policy cues from Japan and the US. Attention is centered on the Bank of Japans two-day meeting, where a 25 basis point rate hike to 0.75% is widely expected, driven by persistent food price inflation keeping overall inflation above the 2% target. Markets will closely follow Governor Kazuo Uedas remarks for hints on whether rates could rise toward 1% by July next year. Meanwhile, the currency faced additional pressure from renewed worries over Japans fiscal health after Prime Minister Sanae Takaichi reiterated plans for proactive fiscal spending to support growth and tax revenues.
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