USD/JPY to 103.40 awaiting BOJ Policy Decision

The yen wobbled in a narrow range in early Asian trade on Tuesday as investors awaited the latest policy decision from the Bank of Japan later in the session.

The BOJ is expected to keep policy uncharged at a two-day meeting as the country’s consumer prices remain on track to meet the central bank’s 2 percent inflation target.

Still, some market participants did not rule out some surprise announcement, ahead of the government’s planned hike to the national sales tax next month to 8 percent from 5 percent.

CNBC

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