SINGAPORE : The yen languished near a 15-year low against the euro and around a seven-month trough against the dollar on Friday, ahead of a closely-watched policy decision by the Bank of Japan, where it is set to stay ultra-dovish in the face of its hawkish peers.The euro was poised for its best week sin
SINGAPORE : The yen languished near a 15-year low against the euro and around a seven-month trough against the dollar on Friday, ahead of a closely-watched policy decision by the Bank of Japan, where it is set to stay ultra-dovish in the face of its hawkish peers.
Against the euro, the yen last bought 153.40, not far from Thursday's 15-year low of 153.685 per euro. The Japanese currency was likewise pinned near an over seven-year low against the British pound at 178.34. "Expectations for no change at the June meeting appear well anchored, so market reaction will likely be muted in such a scenario," said Allianz Global Investors' global head of multi asset Gregor Hirt and portfolio manager Stefan Rittner.
"The biggest hawkish surprise was the upward revision to 2024 and especially 2025 inflation forecasts," said economists at Deutsche Bank in a note. But a string of data out on Thursday had markets challenging that view, as economic activity in the United States slows and inflation cools.
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