Price is relatively unchanged from the NY close as market participants await the first of two Bank of Japan meetings this October. Given that the central bank expanded the size of its asset purchases by ¥10trn on September 19th, expectations today are for BoJ policy also to remain unchanged, with an announcement expected at 03:00 GMT.
However, volatility will most likely be shallow this Friday as most traders will likely remain sidelined ahead of September US NFP figures, due at 12:30 GMT. According to Valeria Bednarik, Chief Analyst at FXstreet.com, “The USD/JPY is the only pair that will react straight to US data tomorrow, sinking on bad news, soaring on positive numbers,” she says.
Regional stock markets are biased up after shares on Wall Street ended higher Thursday. Japan’s Nikkei is now up 45.91 points, or 0.52%, at 8,870.50, while Australia’s ASX is up 18.95 points, or 0.43%, at 8,824.59.