USD/JPY drops under its overnight low ahead of BOJ meeting today

USD/JPY USD/JPY The USD/JPY is the currency pair encompassing the dollar of the United States of America (symbol $, code USD), and the Japanese yen of Japan (symbol ¥, code JPY). The pair’s rate indicates how many Japanese yen are needed in order to purchase one US dollar. For example, when the USD/JPY is trading at 100.00, it means 1 US dollar is equivalent to 100 Japanese yen. The US dollar (USD) is the world’s most traded currency, whilst the Japanese yen is the world’s third most traded currency, resulting The USD/JPY is the currency pair encompassing the dollar of the United States of America (symbol $, code USD), and the Japanese yen of Japan (symbol ¥, code JPY). The pair’s rate indicates how many Japanese yen are needed in order to purchase one US dollar. For example, when the USD/JPY is trading at 100.00, it means 1 US dollar is equivalent to 100 Japanese yen. The US dollar (USD) is the world’s most traded currency, whilst the Japanese yen is the world’s third most traded currency, resulting Read this Term activity is thnner than normal with the Bank of Japan meeting announcement due in around 3 hours time (there is no firmly scheduled time).

While the consensus is for the Bank to remain on hold, a move cannot be ruled out, as said earlier:

BOJ policy meeting today - a change can't be ruled out given December's surprise - preview

USD/JPY had popped earlier but is back under 136.00:

EUR/USD, meanwhile, is above its overnight high and on approach to 1.0600.

Other currencies are much more subdued, the action is in EUR/JPY swings.