The yen touched a six-week high as the Bank of Japan starts a policy meeting today and ahead of a report tomorrow that may show the nation posted a current account surplus.
The pound maintained a decline versus the euro before Bank of England Governor Mark Carney presents an analysis today on implementing forward guidance aimed at anchoring interest rates. The euro was 0.3 percent from a seven-week high against the dollar before German data forecast to show industrial production rose in the currency bloc’s biggest economy.
“We’ve been cautious on dollar-yen and been arguing to wait for dips,” said Robert Rennie, the Sydney-based chief currency strategist at Westpac Banking Corp. “The size and the momentum of the boost that we saw from the yen depreciation is beginning to wane.”
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