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USD/JPY edging lower ahead of BOJ

USD/JPY edging lower ahead of BOJ

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Sean Lee
23/05/2012 | 02:36 GMT

There is no set time for BOJ announcements, but it usually happens around or just after midday Tokyo time. USD/JPY has been edging lower through the morning on exporter selling as well as risk-aversion plays in AUD/JPY and NZD/JPY. Prime broker reports suggest that overall hedge fund positioning in USD/JPY is quite neutral but they remain very short EUR/JPY and are still selling rallies in AUD/JPY and NZD/JPY.

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