USD/JPY gives back early gains ahead of BoJ-Fed monetary policy decision

Source Fxstreet
  • USD/JPY gives up initial gains and turns flat around 144.15, while safe-haven assets lose steam.
  • Both the BoJ and the Fed are expected to leave interest rates at their current levels.
  • Fed officials have already indicated that monetary policy adjustments are inappropriate until they get clarity on the economic outlook under Trump’s leadership.

The USD/JPY pair surrenders its early gains and flattens around 144.15 during European trading hours on Monday. The pair faces selling pressure as the US Dollar (USD) falls back after failing to extend Friday’s recovery move.

The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, retreats to near 98.00.

US Dollar PRICE Today

The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the weakest against the Australian Dollar.

USD EUR GBP JPY CAD AUD NZD CHF
USD -0.36% -0.18% -0.35% -0.16% -0.57% -0.48% -0.17%
EUR 0.36% 0.07% 0.00% 0.21% -0.08% -0.12% 0.20%
GBP 0.18% -0.07% -0.06% 0.14% -0.14% -0.19% 0.13%
JPY 0.35% 0.00% 0.06% 0.19% -0.52% -0.50% -0.23%
CAD 0.16% -0.21% -0.14% -0.19% -0.34% -0.33% -0.01%
AUD 0.57% 0.08% 0.14% 0.52% 0.34% -0.04% 0.28%
NZD 0.48% 0.12% 0.19% 0.50% 0.33% 0.04% 0.32%
CHF 0.17% -0.20% -0.13% 0.23% 0.01% -0.28% -0.32%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).

Meanwhile, the demand of safe-have assets, such as the US Dollar and the Japanese Yen (JPY), has diminished despite tensions between Iran and Israel have escalated.

This week, the major triggers for the pair will be monetary policy announcements by the Bank of Japan (BoJ) on Tuesday and the Federal Reserve (Fed) on Wednesday, respectively.

The BoJ is expected to leave interest rates steady at 0.5% as officials have expressed growth concerns amid global uncertainty due to trade war risk stemming from the tariff policy imposed by United States (US) President Donald Trump.

Simultaneously, the Fed is also expected to hold borrowing rates steady in the current range of 4.25%-4.50% as officials have stated that they need clarity on the new economic policies announced by US President Trump before making any monetary policy adjustments.

Investors will closely monitor the Fed’s dot plot, which shows where officials see interest rates heading in the medium and long term.

Economic Indicator

BoJ Interest Rate Decision

The Bank of Japan (BoJ) announces its interest rate decision after each of the Bank’s eight scheduled annual meetings. Generally, if the BoJ is hawkish about the inflationary outlook of the economy and raises interest rates it is bullish for the Japanese Yen (JPY). Likewise, if the BoJ has a dovish view on the Japanese economy and keeps interest rates unchanged, or cuts them, it is usually bearish for JPY.

Read more.

Next release: Tue Jun 17, 2025 03:00

Frequency: Irregular

Consensus: 0.5%

Previous: 0.5%

Source: Bank of Japan

 

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Bitcoin Must Clear This Critical Cost Basis Level For Continued Upside, Analyst SaysIn a recent CryptoQuant Quicktake post, contributor Crazzyblockk highlighted key Bitcoin (BTC) cost basis zones that the leading cryptocurrency must clear – or avoid breaking below – to
Author  NewsBTC
4 Month 23 Day Wed
In a recent CryptoQuant Quicktake post, contributor Crazzyblockk highlighted key Bitcoin (BTC) cost basis zones that the leading cryptocurrency must clear – or avoid breaking below – to
placeholder
Ethereum Price Action Turns Bearish — Risk of Near-Term CorrectionEthereum price started a fresh increase above the $2,450 zone. ETH is now correcting gains from $2,520 and might slip to test the $2,320 zone. Ethereum started a fresh upward move above the $2,350
Author  NewsBTC
6 Month 27 Day Fri
Ethereum price started a fresh increase above the $2,450 zone. ETH is now correcting gains from $2,520 and might slip to test the $2,320 zone. Ethereum started a fresh upward move above the $2,350
placeholder
This Altcoin Looks Like PEPE Before It Exploded, Analyst SaysA cryptocurrency analyst has pointed out how Pudgy Penguins (PENGU) is starting to look similar to Pepe (PEPE) did before its explosion. Pudgy Penguins May Be Following A Similar Path As PEPE In a
Author  NewsBTC
7 Month 03 Day Thu
A cryptocurrency analyst has pointed out how Pudgy Penguins (PENGU) is starting to look similar to Pepe (PEPE) did before its explosion. Pudgy Penguins May Be Following A Similar Path As PEPE In a
placeholder
Solana (SOL) Cools After Recovery — Resistance Proving Difficult to CrackSolana started a recovery wave above the $150 zone. SOL price is now correcting gains and might struggle to rise above the $155 resistance. SOL price started a fresh decline after it failed to clear
Author  NewsBTC
7 Month 04 Day Fri
Solana started a recovery wave above the $150 zone. SOL price is now correcting gains and might struggle to rise above the $155 resistance. SOL price started a fresh decline after it failed to clear
placeholder
XRP Could Hit $50 If Ripple Gets Bank License, Claims Crypto PunditVincent Van Code, a software engineer and long-time XRP advocate, ignited fresh debate across the crypto community by outlining what he believes to be the transformative implications of Ripple’s
Author  NewsBTC
7 Month 04 Day Fri
Vincent Van Code, a software engineer and long-time XRP advocate, ignited fresh debate across the crypto community by outlining what he believes to be the transformative implications of Ripple’s
Related Instrument
goTop
quote