Investing.com - The USD/JPY rose during Asian trading hours on Tuesday ahead of Bank of Japan’s monetary policy statement to be issued at the end of its two-day policy board meeting later today.
Japan's cash earnings data for December is due to be released at 1030 Tokyo (0130 GMT). Thereafter around 1230 (0330 GMT), the BOJ will announce its policy decision and its monetary policy statement. This will be followed by the regular post-meeting press conference addressed by BOJ Governor Haruhiko Kuroda at 1530 (0630 GMT).
The BOJ board is expected to maintain the present pace of its financial asset purchases as the Japanese economy is moving toward a stable 2% inflation. The central bank is however likely to scale up its low-interest loan program for commercial banks that are investing in growth-oriented sectors. It may also extend the deadline for applying for the loans by one or two years.
In Australia at 1130 Sydney time (0030 GMT) Reserve Bank of Australia will release its minutes. However they will be of less interest for the markets as the central bank has already published its detailed S Statement on Monetary Policy last week.
USD/JPY rose 0.15% to 102.07, AUS/USD went up 0.06% at 0.9037, while NZD/USD fell 0.05% at 0.8362.
On Monday the trade volumes remained thin as U.S. markets shut for the President’s Day holiday.
The U.S. dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, dipped 0.03% to 80.20.