Japanese Yen recedes as Fed and BoJ decisions loom

6:20 PM ETDeveloping

Business Desk

In Short: The Japanese Yen is gaining ground as the Bank of Japan (BoJ) prepares to meet this Friday, with a 25-basis-point hike fully priced in, despite US Dollar pressure.

Series F 5K Yen Bank of Japan note - reverse — Photo: Heavy Frisker / Wikimedia Commons (CC BY-SA 4.0)

On the Japanese side, the Bank of Japan (BoJ) meets this Friday, with a 25-basis-point hike fully priced in, according to reports.

The US Dollar remains under pressure as the Japanese Yen strengthens, despite hawkish bets on a Federal Reserve rate hike and geopolitical tensions.

However, the Japanese Yen's upside appears limited, bolstered by upbeat wage growth data and a positive Q2 GDP revision, which continue to cement bets on a BoJ rate hike next week.

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