The yen was hemmed into a tight range on Monday before a Bank of Japan meeting where policymakers may consider scrapping limits on bond purchases and easing funding for companies hit by the coronavirus crisis.
FILE PHOTO: A Japan Yen note is seen in this illustration photo taken June 1, 2017. REUTERS/Thomas White/Illustration
The stakes are higher for the euro, because the ECB is likely to extend its debt purchases to include junk bonds, and some investors are worried this decision could widen rifts between members of the European Union. The BOJ will discuss scrapping its numerical target for government debt buying, the Nikkei newspaper reported, in a show of resolve to buy unlimited amounts of bonds.
The dollar has risen in recent weeks due to a dollar funding crunch and safe-haven inflows, but some analysts say the greenback is likely to fall in the long term because the Fed has eased monetary policy more aggressively than other central banks.Speculators’ net bearish bets on the U.S. dollar rose to the highest in nearly two years in the latest week, according to calculations by Reuters and U.S. Commodity Futures Trading Commission data.was little changed at $1.0825 in Asia on Monday.
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