Expectations among analysts point to yen volatility and an upward trend in the run-up to the meeting.
The yen was unchanged against the dollar at 147.82 per dollar, with Japanese markets closed for a national holiday.
The yen was flat versus the greenback at 147.82 per dollar with markets in Japan closed for a national holiday. In the week since Ueda’s remarks about a early move from negative rates, it has dropped 1.3% and taken losses for 2023 to more than 11%. The dollar index was a tad lower at 105.23, with the euro up 0.11% at US$1.0667. Sterling was last trading at US$1.2397, up 0.06% on the day.
Futures are pricing in just a 3% chance that the Fed raises interest rates at the end of its two-day meeting next Wednesday.
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