USD/JPY extends decline, drops below 101.70

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Córdoba) - The USD/JPY dropped further and bottomed at 101.64, reaching the lowest price since the beginning of the month. The yen gained momentum across the baord in the last hours as stocks fall in Wall Street and US Treasury bond yields decline.



USD/JPY slides ahead of BoJ



The pair is falling for the third day in a row, having the worst day in a month amid risk aversion and ahead of the Bank of Japan’s decision. The central bank is expect to keep monetary policy unchanged.



According to the RBS Strategy Team, the BoJ has remained fairly neutral in terms of its policy signalling through the implementation of the consumption tax hike. “We expect the Bank will maintain a generally upbeat view on the economy and prices”.



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