The post Japanese Yen consolidates in narrow range as traders await BoJ policy update appeared on BitcoinEthereumNews.com.

The Japanese Yen lacks any firm intraday direction on Wednesday amid mixed fundamental cues. A positive risk tone and disappointing Japanese macro data cap the upside for the safe-haven JPY. Expectations for additional BoJ rate hikes in 2025 support the JPY amid subdued USD price action. The Japanese Yen (JPY) struggles to gain any meaningful traction on Wednesday and oscillates in a narrow trading range against its American counterpart during the Asian session amid mixed cues. US President Donald Trump signed an order to ease the impact of new tariffs on the auto industry. Signs of further trade deals remain supportive of a positive risk tone. Apart from this, disappointing domestic data turns out to be key factors capping the safe-haven JPY. Traders, however, seem reluctant to place aggressive bets and opt to wait for the outcome of a crucial two-day Bank of Japan (BoJ) policy meeting starting today. The BoJ will announce its decision on Thursday and is widely expected to hold interest rates steady amid heightening risks to the fragile economy from US tariffs. However, signs of broadening inflation in Japan keep the door open for further BoJ policy normalization, which might continue to act as a tailwind for the JPY. Japanese Yen traders move to the sidelines ahead of the crucial BoJ meeting starting this Wednesday US President Donald Trump signed an order that will allow US carmakers to reduce the amount they pay in import taxes on foreign parts. Moreover, White House officials said that parts made in Canada and Mexico that follow North American free trade rules would not face tariffs. This comes on top of progress on trade negotiations and hopes for further trade deals, which remains supportive of a positive risk tone. In fact, US Treasury Secretary Scott Bessent said earlier this week…

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Filed under: News - @ April 30, 2025 2:27 am