The
yen was set for a weekly gain against most of its 16 major peers before
the end of a Bank of Japan meeting at which economists predict no
policy change, supporting the currency.
New
Zealand��s dollar led gains among its most-traded counterparts this
week as the central bank��s assistant governor said in a Bloomberg News
interview that policy makers want to get interest rates œmore to a
neutral level. Australia��s dollar was near a two-month high before
reports forecast to show retail sales and industrial production growth
in China, its largest trading partner, accelerated in May. The pound
strengthened against the euro to highest since November 2012.
The
yen traded at 101.71 per dollar as of 8:51 a.m. in Tokyo, little
changed from yesterday and 0.8 percent stronger this week. It was
unchanged at 137.83 per euro from yesterday and 139.80 on June 6. The
euro bought $1.3550 from $1.3552 yesterday, set for a 0.7 percent weekly
decline. Europe��s common currency fell as low as 79.94 pence, the
least since November 2012.
The
BOJ, led by Governor Haruhiko Kuroda, has kept its policy of buying
about 7 trillion yen ($68.8 billion) of government bonds a month since
April 2013. All 33 analysts surveyed by Bloomberg forecast the central
bank will keep policy unchanged today. Nine percent of economists
surveyed from June 3 to 6 predicted extra monetary stimulus in July,
down from 38 percent in the previous survey.
Source : Bloomberg
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