The Japanese yen edged up in value against the world's reserve currency and the euro on Tuesday in advance of the Bank of Japan convening a policy meeting later this week, according to published reports.
For the past several weeks, the yen has been dipping against the U.S. dollar, Reuters reports. The yen's rise against its cross-Pacific rival come amid a pause in dollar purchases. Bloomberg reports the Bank of Japan is slated to meet on Thursday and Friday, for which expectations are not high.
"There's nothing to expect from the BOJ this week," currency strategist Kiran Kowshik with BNP Paribas SA in London told the news outlet on Tuesday. "Some of the data has been weaker but then the BOJ was anticipating that and it has not really surprised them."
The Japanese yen rose about 0.25 percent against both the greenback and the 18-nation monetary unit.
The yen's climb on Tuesday marked the first day of gains in three days, according to Bloomberg, which administered a poll stating the policy meeting later this week will not expand the scope of stimulus policy in japan.
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