USD/JPY slides toward 127.00 as Japanese Yen keeps rallying ahead of BoJ decision
USD/JPY is holding the latest downtick below 127.50, having renewed eight-month lows at 127.24. Bears remain in control at the start of the week on Monday, as the Japanese Yen extends its bullish momentum. Hopes that the Bank of Japan (BoJ) could surprise markets with a hawkish pivot at its policy meeting this week are underpinning the sentiment around the Yen, especially after the Japanese central bank failed to defend its yield curve control (YCC) policy for the second day in a row. The 10-year JGB yield rose 1 basis point to 0.510%, topping the 0.5% ceiling of the BOJ’s policy band. “The BOJ bought roughly 10
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