The Dollar held steady near a seven-month low against the euro ahead of US inflation data later in the day.
BOJ's Monetary Easing Review Boosts Yen
The Bank of Japan's (BOJ) surprise tweak in December to its bond yield control failed to address distortions caused by the central bank's massive bond buying. A Yomiuri report suggests that the BOJ will review the side effects of its monetary easing at next week's policy meeting and may take additional steps to correct distortions in the yield curve. Chris Turner, global head of markets at ING in London, said, "You could start to see the normalization of monetary policy, which would be a huge step for Japan (and) a very positive tailwind for the Yen."
