USD/JPY looks to FOMC for direction – OCBC

FXStreet (Edinburgh) - According to Emmanuel Ng, FX Strategist at OCBC Bank, the pair could remain rangebound ahead of the FOMC minutes due later.

Key Quotes

“Investors continue to look towards a potential for further easing by the BOJ at the end of the month (when growth and inflation forecasts are expected to be revised lower) despite the central bank remaining static at yesterday’s meeting and with the BOJ’s Kuroda sounding fairly neutral”.

“Fed rhetoric and FOMC minutes are expected to be the primary driver intra-day with the pair still seen moored in the vicinity of 120.00”.