Market Overview

USD/JPY Trading Higher Ahead of BOJ, Construction Orders Improve

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USD/JPY is trading at 104.98, up 0.29.

The pair is trading rangebound and just under the session highs.

Market chatter about global central bank monetary policy is making the rounds. Japan's Nikkei Manufacturing PMI (purchasing managers survey) is due out at 8:30 p.m.ET.

Japan's Ministry of Land, Infrastructure, Transport and Tourism (MLIT) reported that year over year construction orders during September were up 16.3 percent versus a rise in August of 13.8 percent. Japanese housing starts were up 10 percent versus a 2.5 percent rise in August.

Market talk about possible comments from Bank of Japan (BOJ) Governor Kuroda is making the rounds. The BOJ meets today and will announce if there is any change to monetary policy late this evening followed by a news conference held by Bank of Japan Governor Haruhiko Kuroda.

 

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Posted-In: Japanese Yen USD/JPY yenFutures Forex Markets