Investing.com - The U.S. dollar regained some ground against other major currencies on Thursday, but gains were expected to remain limited as investors remained cautious ahead of the Bank of England’s policy decision due later in the day, as well as U.S. jobless claims data.
USD/JPY climbed 0.53% to 108.98.
Sentiment on the yen remained fragile since Japanese Finance Minister Taro Aso said on Monday that financial authorities are prepared to intervene in the currency market if excessive moves in the yen are enough to affect the country’s economy.
However, Bank of Japan Governor Haruhiko Kuroda said earlier Thursday that it would be difficult for Japan's finance ministry to intentionally weaken the yen to boost exports.
EUR/USD held steady at 1.1421.
GBP/USD was little changed at 1.4437. Later Thursday, the BoE was expected to leave its monetary policy unchanged.
Investors were looking to comments by BoE Governor Mark Carney, scheduled after the policy statement, for indications on the central bank’s future policy moves.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.11% at 93.90.