1 Yen to Dollar - The Japanese Yen (JPY) weakened on Tuesday as the Bank of Japan (BoJ) provided no hints about negative interest rates or its Yield Curve Control (YCC) policy. Nevertheless, hopes for wage increases in Japan boosted confidence that the BoJ may change its ultra-loose policy.

USD/JPY strengthened as expectations for interest rate cuts by the Federal Reserve (Fed) weakened the US Dollar (USD). Traders are waiting for US consumer inflation data for further clues, while JPY appears to have stabilized after five consecutive days of increases. This situation affects currency movement ahead of next week's BoJ monetary policy meeting.

Market Movers Summary: Japanese Yen Continues to Weaken Due to Dovish Statements from BoJ Governor Ueda

The Japanese Yen weakened due to dovish statements from the Japanese Finance Minister and the Governor of the Bank of Japan. The BoJ has yet to show plans to exit its loose policy, and investors are confident that this may occur after the spring wage negotiations. Inflation in Tokyo is recovering, supporting speculation of policy changes. The US Dollar struggles to attract buyers, while US bond yields decline, limiting the USD/JPY pair. Traders are awaiting US consumer inflation data before the BoJ meeting next week. Headline CPI is projected to rise, while Core CPI is expected to decrease.

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