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No BoJ policy change expected - RBS

FXStreet (Bali) - According to RBS FX Strategists, the Bank of Japan is likely to keep its policy steady this week, ahead of its Semi-annual Outlook Report later this month.

Key Quotes

"We think it is unlikely that the Bank of Japan makes any notable changes to monetary policy ahead of its Semi-annual Outlook Report later this month."

"On Wednesday, balance of payments data for August are released and may reveal if Japanese institutional investors have been investing more offshore."

"Rising concern among fiscal policymakers about weakness in the JPY and positioning are headwinds to USD/JPY upside – a period of consolidation may be forthcoming, though we expect it will eventually give way to renewed USD/JPY upside."

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