Investing.com – The yen rose slightly against the U.S. dollar on Monday, amid mounting expectations that the Bank of Japan will announce steps to loosen monetary policy further at a key meeting later this week.
USD/JPY hit 90.67 during early European trade, slipping 0.03%. The pair was likely to find resistance at 92.15, the high of Feb. 19, and support at 88.14, the low of March 4.
Meanwhile, the yen soared against sterling, with GBP/JPY jumping 0.88% to reach 136.63.
The BOJ ends a two-day meeting on Wednesday, after which it is likely to announce additional easing measures, Reuters reported, such as boosting the size or duration of its special fund-pumping operations.
Also Monday, official data showed that Japan’s household sentiment rose for a second month in February as the economic recovery began to generate jobs.
USD/JPY hit 90.67 during early European trade, slipping 0.03%. The pair was likely to find resistance at 92.15, the high of Feb. 19, and support at 88.14, the low of March 4.
Meanwhile, the yen soared against sterling, with GBP/JPY jumping 0.88% to reach 136.63.
The BOJ ends a two-day meeting on Wednesday, after which it is likely to announce additional easing measures, Reuters reported, such as boosting the size or duration of its special fund-pumping operations.
Also Monday, official data showed that Japan’s household sentiment rose for a second month in February as the economic recovery began to generate jobs.