2:10 م
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Forexpros - The U.S. dollar edged lower against the yen on Friday, after
the Bank of Japan left monetary policy unchanged, while investors
awaited the release of key U.S. employment data later in the day.
USD/JPY hit 78.28 during European morning trade, the pair's lowest since October 3; the pair subsequently consolidated at 78.42, edging down 0.07%.
The pair was likely to find support at 78.12, the low of October 3 and resistance at 78.71, Thursday's high.
The yen found some support after the BoJ ended a two-day policy meeting by holding the benchmark interest rate close to zero, in a widely expected move.
The central bank held off from more easing after adding to stimulus last month, keeping its asset-purchase fund at JPY55 trillion, despite increased political pressure and signs of an economic contraction.
The announcement came after the minutes of the Federal Reserve's September policy meeting showed that the central bank is moving toward linking its outlook for near-zero interest rates to specific economic conditions such as a decline in the unemployment rate.
The move would represent a shift from the Fed’s policy of tying low rates to the calendar.
The greenback had gained ground against the safe haven yen on Thursday after European Central Bank President Mario Draghi reiterated that the bank was ready to start purchasing the debt of troubled euro zone states.
Elsewhere, the yen was higher against the euro with EUR/JPY falling 0.15%, to hit 102.01.
Later in the day, the U.S. was to produce official data on non-farm payrolls and the unemployment rate, as well as a report on average hourly earnings
USD/JPY hit 78.28 during European morning trade, the pair's lowest since October 3; the pair subsequently consolidated at 78.42, edging down 0.07%.
The pair was likely to find support at 78.12, the low of October 3 and resistance at 78.71, Thursday's high.
The yen found some support after the BoJ ended a two-day policy meeting by holding the benchmark interest rate close to zero, in a widely expected move.
The central bank held off from more easing after adding to stimulus last month, keeping its asset-purchase fund at JPY55 trillion, despite increased political pressure and signs of an economic contraction.
The announcement came after the minutes of the Federal Reserve's September policy meeting showed that the central bank is moving toward linking its outlook for near-zero interest rates to specific economic conditions such as a decline in the unemployment rate.
The move would represent a shift from the Fed’s policy of tying low rates to the calendar.
The greenback had gained ground against the safe haven yen on Thursday after European Central Bank President Mario Draghi reiterated that the bank was ready to start purchasing the debt of troubled euro zone states.
Elsewhere, the yen was higher against the euro with EUR/JPY falling 0.15%, to hit 102.01.
Later in the day, the U.S. was to produce official data on non-farm payrolls and the unemployment rate, as well as a report on average hourly earnings
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