BOJ's Monetary Policy Decision Impacts Yen and Dollar.
TL;DR Summary
The USD/JPY pair rose slightly on Thursday, despite a weaker US dollar, following the Fed's decision to signal a higher terminal rate at its June FOMC meeting. The Bank of Japan's monetary policy announcement on Friday is the next major volatility catalyst worth watching, with expectations that the BoJ will maintain its ultra-accommodative stance. With the BoJ not ready to withdraw stimulus and the FOMC on course to lift borrowing costs possibly two more times in 2023, USD/JPY is likely to remain biased to the upside in the near term.
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