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Uncertainty and the BOJ make Yen stronger

USDJPY News by Allie Longford on 02:27 January 31, 2017 EST
The yen strengthened against the dollar and euro on Tuesday, in the face of the U.S. P protectionist steps and jitters over the Bank of Japan’s future policy stance.

Te U.S. dollar USDJPY, -0.30% slipped to arund ¥113.00 during Tokyo's session.

U.S. stocks tumbled Monday and the sentiment continiued over into Asia trade, sending the Nikkei Stock Average NIK, -1.69% lower.

As expected, the BOJ stuck to its monetary policy on Tuesday helding back from raising its inflation forecast for the coming year. Investors are now shifting attention to BOJ Gov. Haruhiko Kuroda’s press conference and the central bank’s monthly bond purchase operation plans as last week, the central bank decided to forgo a JGB buying operation on Wednesday, prompting speculation among investors that the BOJ could be scaling back its asset-buying program.