Yen rebounds as BOJ is in focus
On Thursday, the Japanese yen rebounded during Asia trade, as the Bank of Japan's monetary policy gathering next week took center stage with speculation regarding probable policy steps swirling, such as a focus on negative rates over asset purchases, while the Australian dollar dropped on jobs data.
The currency pair USD/JPY traded at 102.14, decreasing 0.28%, while AUD/USD was worth 0.7462, tumbling 0.12%.
Financial experts wonder whether BOJ Governor Haruhiko Kuroda will disclose steps, stemming from a review of monetary policy called for at the last gathering, which some experts say stem from great pressure by Prime Minister Shinzo Abe just to get a clear handle on efficient policy options. Meanwhile, Goldman Sachs actually expects Japan’s major financial institution to maintain its current policy framework during next week's gathering and also make use of the comprehensive assessment in order to improve the overall visibility of future policy direction.