Mars Finance News

The Japanese yen strengthened against the US dollar and other currencies in early Asian trading. In a research report, the Commonwealth Bank of Australia (CBA) Global Economics & Markets Research team noted that both the Federal Reserve and the Bank of Japan will hold monetary policy meetings this week. If the market focuses on the convergence of monetary policy between the two, the US dollar could fall to a year-to-date low below 140.00 against the Japanese yen. The team said that while the Bank of Japan is expected to keep policy unchanged this week, Governor Haruhiko Kuroda may open the door for another rate hike, possibly as early as October.

Meanwhile, the FOMC is expected to cut interest rates by 25 basis points this week. According to FactSet data, the US dollar fell 0.2% against the Japanese yen to 140.52, after touching 140.29 on Friday, its lowest intraday level this year. (Jin Shi)