JadeFOREX

USD/JPY has dropped heavily into the Tokyo open and is down some 0.4%. The pair fell from a 132.48 high to a low of 131.76 before stabilising. Japanese media Yomiuri came out with the news suggesting another hawkish move by the Bank of Japan (BOJ) during its next week’s monetary policy meeting.
The announcement signalled that the Japanese central bank is up for reviewing the side effects of massive monetary easing in the monetary policy meeting next week. “BOJ reviews due to skewed interest rates in markets even after last month’s tweak in bond yield control policy,” adds Yomiuri per Reuters.