Forex: USD/JPY falls ahead of BoJ policy meeting

on Jul 10, 2013
Listen Wednesday July 10th:_ During today’s Asian session the yen strengthened against the greenback and the pair fell to what remains an intraday low at 99.77.

Japan’s corporate goods price index, released by the Bank of Japan at 00.50 BST, rose 1.2 percent in June, following a 0.6 percent increase in May and matching the analysts’ expectations.
The tertiary industry activity index came out as 1.2 percent up in June after May’s flat reading and beating expectations for a 0.9 percent rise.
The consumer confidence index fell 1.4 points to a seasonally adjusted 44.3 in June, logging its lowest level since February’s 44.2.

The Bank of Japan today started a two-day policy meeting, with the nine-member policy Board likely to decide whether to raise its assessment of the country’s economy for the seventh consecutive month. According to analysts, the central bank may await the outcome of the country’s upper house elections on July 21 before making any changes in monetary policy.