Investing.com - The U.S. dollar traded slightly lower against the Japanese yen during Friday’s Asian session after the Bank of Japan made no changes to its already loose monetary policy.
In Asian trading Friday, USD/JPY inched down 0.01% to 97.26 after earlier trading as low as 97.04. The pair was likely to find support at 96.88, the low of August 28 and resistance at 98.72, the high of October 1.
On Friday, the Bank of Japan concluded its policy meeting with out major announcements regarding its current monetary policy. BoJ maintained its view that the economy was recovering at a moderate pace, CNBC reported. BoJ Governor Kuroda is scheduled to speak later today.
The central bank kept its economic assessment unchanged as well, but BoJ member Kuichi proposed making the goal of 2% inflation within two years a medium- to long-term, but that proposal was shot down as he was the only BoJ member to support it.
In U.S. economic news out Thursday, the ISM non-manfacturing PMI showed a sharper than expected decline from 58.6 to 54.4, lower than the consensus at 57.4.
Separately, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending Sept. 28 rose by 1,000 to a seasonally adjusted 308,000, better than analysts' calls for jobless claims to rise by 6,000 to 313,000 last week.
Elsewhere, AUD/JPY climbed 0.44% to 91.78 while EUR/JPY inched up 0.02% to 132.49.
In Asian trading Friday, USD/JPY inched down 0.01% to 97.26 after earlier trading as low as 97.04. The pair was likely to find support at 96.88, the low of August 28 and resistance at 98.72, the high of October 1.
On Friday, the Bank of Japan concluded its policy meeting with out major announcements regarding its current monetary policy. BoJ maintained its view that the economy was recovering at a moderate pace, CNBC reported. BoJ Governor Kuroda is scheduled to speak later today.
The central bank kept its economic assessment unchanged as well, but BoJ member Kuichi proposed making the goal of 2% inflation within two years a medium- to long-term, but that proposal was shot down as he was the only BoJ member to support it.
In U.S. economic news out Thursday, the ISM non-manfacturing PMI showed a sharper than expected decline from 58.6 to 54.4, lower than the consensus at 57.4.
Separately, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending Sept. 28 rose by 1,000 to a seasonally adjusted 308,000, better than analysts' calls for jobless claims to rise by 6,000 to 313,000 last week.
Elsewhere, AUD/JPY climbed 0.44% to 91.78 while EUR/JPY inched up 0.02% to 132.49.