Dollars less change before the central bank meeting; BOJ gets noticed
The dollar changes little in the second day before some central banks will meet this week.
The Bank of Japan (BOJ) will have 2 days of meetings, ending on Tuesday while the FED ends on Wednesday and is predicted to reaffirm the tendency to raise interest rates when the market almost has all bets on the interest rate increase on Sep And will increase once at the end of the year. The central Bank of England will also make policy decisions on Thursday.
USD index, the dollar strength measurement compared to the currency basket, does not change at 94.47 at 1:20 AM ET (0520GMT).
The US GDP rose 4.1% in the second quarter, the highest increase since 2014 but did not affect much of the dollar.
In Asia, BOJ will decide the monetary policy on Tuesday when the investor predicts that the central bank will have adjusted its asset acquisition campaign. The USD/JPY rate increased by 0.02% to 111.05 before the meeting took place.
Elias Haddad, senior strategy expert on forex at the Commonwealth Bank of Australia said: "The base scenario is the BOJ will not change the policy. But many forecasts suggest that the BOJ may adjust the interest rate curve partly because of the profits of the banks at low levels and affect inflation. "
Analysts also predict that the BOJ may change their purpose of acquisition of 80 trillion yen ($ 720 billion) in bonds in the year 2018, as well as lifting the yield of 10-year bonds.
Haddad said: "Any such policy change is considered a step to little change in monetary policy."
{{| Australian dollar}} decreased 0.05% to 0.7398, mitigated after a 0.4% increase on Friday.
The Bank of Japan (BOJ) will have 2 days of meetings, ending on Tuesday while the FED ends on Wednesday and is predicted to reaffirm the tendency to raise interest rates when the market almost has all bets on the interest rate increase on Sep And will increase once at the end of the year. The central Bank of England will also make policy decisions on Thursday.
USD index, the dollar strength measurement compared to the currency basket, does not change at 94.47 at 1:20 AM ET (0520GMT).
The US GDP rose 4.1% in the second quarter, the highest increase since 2014 but did not affect much of the dollar.
In Asia, BOJ will decide the monetary policy on Tuesday when the investor predicts that the central bank will have adjusted its asset acquisition campaign. The USD/JPY rate increased by 0.02% to 111.05 before the meeting took place.
Elias Haddad, senior strategy expert on forex at the Commonwealth Bank of Australia said: "The base scenario is the BOJ will not change the policy. But many forecasts suggest that the BOJ may adjust the interest rate curve partly because of the profits of the banks at low levels and affect inflation. "
Analysts also predict that the BOJ may change their purpose of acquisition of 80 trillion yen ($ 720 billion) in bonds in the year 2018, as well as lifting the yield of 10-year bonds.
Haddad said: "Any such policy change is considered a step to little change in monetary policy."
{{| Australian dollar}} decreased 0.05% to 0.7398, mitigated after a 0.4% increase on Friday.
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