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Forex - Dollar slips lower against firmer yen

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Investing.com - The dollar slipped lower against the yen on Thursday, but the pair remained in a narrow range ahead of the outcome of next week's Bank of Japan policy meeting.

USD/JPY hit 93.99 during late Asian trade, the pair's lowest since Tuesday; the pair subsequently consolidated at 94.20, shedding 0.27%.

The pair was likely to find support at 93.52, the low of March 25 and resistance at 94.89, Wednesday's high.

The dollar looked likely to remain supported close to three-and-a-half year highs against the yen as expectations for more aggressive easing measures by the BoJ remained intact.

New BoJ Governor Haruhiko Kuroda said earlier this week that policymakers will consider abolishing a rule limiting the central bank's purchase of government bonds.

Kuroda also said the bank's board will consider extending the maturity of government bonds it buys to five years or more from the current three years at next week's policy-setting meeting.

The yen edged higher against the euro, with EUR/JPY slipping 0.08% to 120.60.

The single currency remained under pressure amid concerns over prolonged political uncertainty in Italy and jitters ahead of the reopening of bank in Cyprus after a two-week closure.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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