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Yen dithers as dollar weakens, stocks regroup
Yen was little changed against the dollar today after trimming its gains yesterday, amid growing negative pressure on the Japanese currency due to the recovery of Asian markets.
USD/JPY traded near the opening level of 106.90, with an intraday low at 106.78, and a high at 107.09.
Asian stocks rose today to three-week highs as investors seek more risks, hurting the Japanese currency and forcing it into sideways trading.
Bank of Japan Governor Haruhiko Kuroda said on Monday he doesn't have a plan to conduct a full assessment of monetary policy, noting the easing policies will continue until inflation hits 2%.
Now markets await Fed Chair Jerome Powell's first testimony before Congress to take clues about his stance on monetary policy.
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