On Monday, the Japanese yen kept going down during Asia trade with trade data unveiling better than expected figures, although exports as well as imports dipped notably ahead of a week expected to bring the BOJ’s and Fed’ comment on monetary policy.
The currency pair USD/JPY traded at 106.45, showing a 0.30% surge, while AUD/USD was worth 0.7470,going up 0.07%. As for GBP/USD, this currency pair was worth 1.3127, rising 0.13%.
In Japan, the adjusted trade balance kicked in at a surplus of approximately ¥33 billion, which is better than the ¥24 billion observed and imports slumped 18.8%, less than the 19.7% dip expected and exports sank 7.4%, less than the 11.6% tumble observed.
The US dollar index, normally gauging the greenback’s strength against key six currencies, gained 0.09%, trading at 97.50.
Ahead this week, market participants will look to Wednesday’s highly-anticipated Fed monetary policy statement for fresh guidance regarding the pace of interest rate lifts over the next several months as well as a monetary policy announcement from the BOJ on Friday, amid surging expectations for further stimulus.
